Day: December 4, 2022

It “will take years” to get energy prices back to pre-Ukraine war levels, the boss of one of the world’s biggest energy firms has told the BBC. Enel’s Francesco Starace said bringing prices down depends on new sources of energy such as renewables and heat pumps. Governments across Europe are spending billions helping business and households afford energy bills. They are also scrambling to secure new supplies. Mr Starace said the company, which produces and distributes electricity and gas, tried to shield its 20 million European customers from energy market…

Read More

The Asian Development Bank (ADB) has approved “Khyber Pakhtunkhwa Water Resources Development Project” with concessional ordinary capital resources lending of $3.60 million. The project documents revealed that the government of Pakistan requested Project Readiness Financing (PRF) from the ADB to prepare the Khyber Pakhtunkhwa Water Resources Development Project. The project supports the government of Pakistan’s Vision 2025 and the ADB’s country partnership strategy for Pakistan, 2021-2025, which emphasises addressing the food security constraints, building climate resilience, and investing in value-chain rural infrastructure developments importantly improving water storage and regulatory capacity,…

Read More

Iran has begun the construction of a new nuclear plant in the southwestern province of Khuzestan, the country’s atomic energy agency said Saturday. Mohammad Eslami, the head of the Atomic Energy Organization of Iran, announced in televised remarks the start of construction of the 300-megawatt Karun power plant in the Darkhovin district of Khuzestan. Construction of the plant will take seven years and is expected to cost between $1.5 billion and $2 billion, he added on state television. Eslami said the power plant was “first set to be constructed by…

Read More

As many as 51 Renewable Energy (RE) projects having accumulative capacity 2,634 MW have been commissioned so far and supply clean energy to the national grid. Official sources told APP here that the government was actively promoting and facilitating deployment of RE projects across the country as these projects were being pursued in Independent Power Producers (IPPs) mode through private sector investors under policies. Utilization of solar energy technology at consumer ends across domestic, commercial, industrial sectors was also being encouraged. Several other initiatives were being taken for fast-track development of RE projects. They…

Read More

The Economic Coordination Committee (ECC) of the Cabinet has approved the allocation of Rs8.109 billion through a technical supplementary grant to the power sector for the execution of development schemes in the provinces –with the highest amount of Rs6.554 billion in Punjab – under “Sustainable Development Goals Achievement Program” (SAP) during the current fiscal year. The ECC meeting presided over by Finance Minister Ishaq Dar deliberated upon a summary submitted by the Ministry of Energy (Power Division) and stated that the Cabinet Division has surrendered Rs8,109.772 million in favour of…

Read More