Month: September 2023

Chinese firm to establish electric vehicle plant in Pakistan

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electric-vehicles

ISLAMABAD: A Chin­ese electric car manufacturing company has announced establishing an electric vehicle (EV) plant in Pakistan and chain of showrooms in major cities of the country. This announcement was made by a delegation of XinjianJingyi Cheng Group, led by its assistant chairman GU Xongquan, during a meeting with FPCCI Vice President Amin Ullah Baig here on Thursday. Mr Baig, who is also chairman of the FPCCI Capital Office, held an extensive discussion with the Chinese firm’s team on the investment landscape of Pakistan. Mr GU said entering the Pakistani…

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World needs $2.7tr for net zero emissions

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wind-energy

Report says most countries are not on track to even meet emissions targets by 2030 LONDON: Global investment of $2.7 trillion a year is needed to achieve net zero emissions by 2050 and avoid temperatures from rising above 1.5 degrees Celsius this century, a report by consultancy Wood Mackenzie said on Thursday. Scientists have said the world ideally needs to limit global average temperature rise to 1.5C this century to avoid catastrophic effects from climate change. Many governments have pledged to reduce emissions to net zero by mid-century to help…

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Summary seeking up to 50pc raise in gas sale prices re-submitted

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gas-prices

Interim Minister for Energy, Muhammad Ali says increase in gas rates ahead of winter was inevitable to contain the gas-sector circular debt ISLAMABAD: Petroleum Division has re-submitted a summary for upto 50 percent raise in gas sale prices to the interim cabinet in-line with the demand of the International Monetary Fund (IMF), an official of Petroleum Division told Business Recorder on condition of anonymity. “It is most likely that the interim cabinet will approve the sale price of gas for 12 categories of protected and non-protected consumers in the current month (September),”…

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RfP for solar PV project: PPIB seeks revision in indexation, adjustment formula

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solar-panel

ISLAMABAD: The Private Power Infrastructure Board (PPIB) has sought revision in indexation/adjustment formula, taking into account the one-time adjustment of 20 percent of the bid tariff at Commercial Operation Date (COD) for exchange rate variation, well-informed sources told Business Recorder. The PPIB, in a letter to the National Electric Power Regulatory Authority (NEPRA) has cited reference of correspondence of NEPRA’s of September 6, 2023, whereby the decision on the PPIB’s review motion for amendment to the Request for Proposal (RfP) has been issued in line with the Framework Guidelines for Fast…

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Risen Enters into Distribution agreement with AGN Solar with a first supply of 50MW for Pakistan Market

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Risen-Announces

Risen Announces the signing of Distributor appointment and new sales agreement with AGN Solar for supply for 50MW of its high efficiency modules . AGN Solar is specialized distributor of Renewable Energy Products and Tier 1 Equipment such as Solar Panels , Inverters and batteries that create solar energy in Pakistan and middle east . The agreement includes 90,000PV  modules of various powers which include P type monoracial and Bifacial 550/555W  and N type latest technology HJT 585W and 685W .The Modules will be delivered to Karachi ,Pakistan , where…

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