LONGi Green Energy Technology Co., Ltd (hereinafter LONGi) has noted that BloombergNEF, a global third-party research provider, stated in its Q2 2022 Global PV Market Outlook that “the world’s largest module maker, LONGi, is […] off the list for Q2 2022 because it has a debt record from May 15, 2022.” The company feels it necessary to clarify the circumstances…
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Argentina, home to the world’s second-largest shale gas deposit, cannot help gas-starved Europe, which is scrambling to obtain non-Russian natural gas after Russia’s invasion of Ukraine. In fact, Argentina cannot even help wean itself off its energy import dependence in the short term despite the huge resources at the Vaca Muerte shale. The development of Vaca Muerta has hit various…
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The new windfall tax on profits of oil and gas companies in the UK is expected to cost the medium-sized North Sea-focused companies a total of $3.3 billion through 2025, according to investment bank Jefferies. Following months of rumors and indecision, the UK government announced last week a 25% Energy Profits Levy, commonly referred to as a “windfall tax”, as part…
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Secretary Energy and Electronics Syed Imtiaz Hussain Shah Wednesday said that timely completion of energy projects is a big challenge and Matiltan Hydropower Project 84MW would be completed in 2023. The Department of Energy, through its subsidiary PEDO, is working on several hydropower projects in Swat, of which 37 MW Daral Khuar Power House has been successfully completed, while Matiltan…
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China Power Hub Generation Company (Private) Limited (CPHGC) has approached Secretary to Prime Minister for resolution of issues of overdue receivables, revolving account and tariff adjustment/true-up. CPHGC is a 2X660MW (1320MW) coal based IPP established under the China Pakistan Economic Corridor (CPEC), located at Hub, Balochistan. The project achieved its Commercial Operations Date (COD) on August 17, 2019. The company…
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K-Electric may consider resuming load-shedding across its consumer network including the industrial zones, and may increase the duration of outages in the already affected areas to help people avoid default on monthly bill payments. “The cost of power production has gone beyond peoples’ affordability,” K-Electric’s Chief Marketing Officer Sadia Dada said while briefing media on Wednesday. “K-Electric may consider power…
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The power shortfall on Wednesday rose to an unprecedented level of 7,500 MW, triggering massive loadshedding of over 10 hours in urban areas and up to 18 hours in rural areas. Despite several claims made by the incumbent government to permanently solve the problem, the duration of power outages are yet to be curtailed. Instead, with every passing day, it…
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The National Electric Power Regulatory Authority (NEPRA) is all set to announce today (Thursday) the increase in electricity base tariff by Rs7.90 per unit for the next budgetary year 2022-23. It will be effective from July 1, 2022 after the nod of the federal government. This increase in base tariff will help the incumbent government help restore the $6 billion…
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A blanket removal of energy subsidies and tax reforms are inconsistent with the climate strategy of the International Monetary Fund (IMF) as the global lender claims to support favourable tax regimes and spending policies for climate-vulnerable countries. Addressing a press conference on Wednesday, members of a coalition of civil society organisations working on the country’s energy transition to renewable sources…
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