Month: May 2020

With an $800-plus billion electric vehicle market looming over the horizon by 2027, the idea of charging your zero emission car on-the-go with a solar rooftop is trotting along not far behind. The key challenge is coming up with a system light enough, and efficient enough, to make the whole exercise in direct solar-powered mobility worthwhile. Two companies that claim to have the solar EV roof all figured out are Royal DSM and Lightyear. Lightyear’s signature Lightyear One electric vehicle is set to launch next year with five square meters of built-in solar cells…

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Parisian Mayor Anne Hidalgo has announced that returning to a city dominated by cars post- pandemic is “out of the question”. A special session was organised by the Paris City Council to look at ways to guide citizens out of lockdown, where Hidalgo emphasised her stance on reducing pollution in the capital. “I say in all firmness that it is out of the question that we allow ourselves to be invaded by cars, and by pollution,” she said. “Pollution is already in itself a health crisis and a danger —…

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WASHINGTON, May 19, 2020— The World Bank Group today announced its emergency operations to fight COVID-19 (coronavirus) have reached 100 developing countries – home to 70% of the world’s population. Since March, the Bank Group has rapidly delivered record levels of support in order to help countries protect the poor and vulnerable, reinforce health systems, maintain the private sector, and bolster economic recovery. This assistance, the largest and fastest crisis response in the Bank Group’s history, marks a milestone in implementing the Bank Group’s pledge to make available $160 billion in…

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The Finance Ministry has reportedly agreed to convert 800 billion rupees parked in Power Holding Private Limited (PHPL) into public debt with a biannual review of the sector’s performance as per a World Bank policy matrix loan condition. Those who may contend that this is reflective of the government’s commitment to reform the sector which is plagued by multifarious issues including a circular debt of 1.1 trillion rupees (attributed to high transmission and distribution losses, low recoveries, tariffs and insufficient subsidies) with the additional power sector debt parked in PHPL…

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ISLAMABAD: Minister for Privatisation Muhammad Mian Soomro has warned the government that an inquiry against Independent Power Producers (IPPs) may hamper privatisation of RLNG-fired power plants, well-informed sources told Business Recorder. At a recent meeting of Federal Cabinet, Minister for Privatisation mentioned concerns conveyed by the Financial Advisors to the Privatisation Commission for privatisation of power plants; he further noted that interested (credible) shortlisted companies were concerned at the report on IPPs which would have a subsequent adverse impact on the pricing and timing of transactions and, therefore, all such…

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