Day: January 3, 2024

SolaX Power, a Pioneering Force in Solar and Storage Solutions, Successfully Executes its Initial Public Offering (IPO)

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SolaX-Power

On January 3, 2024, SolaX Power, an industry trailblazer in the solar and storage sector, is pleased to announce the successful culmination of its Initial Public Offering (IPO) and subsequent listing on the Shanghai Stock Exchange STAR Market, trading under the stock code 688717. This notable accomplishment marks a pivotal milestone in the company’s decade-long trajectory. Founded in 2012, SolaX Power is dedicated to actualizing a clean and sustainable future through solar energy. As a leading global provider of solar and storage solutions and one of Asia’s pioneering hybrid inverter…

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Kidney Hill becomes first solar powered park in Karachi

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Kidney-Hill

Kidney Hill has become the first-ever park in Karachi which will use solar panel-generated electricity.Solar panels with a combined capacity of 100 kilowatts (KWs) have been installed in the park which will generate fuel-free energy. The project is aimed at coping with energy woes and producing environmentally friendly energy.Mayor Karachi Murtaza Wahab shared a post on his X handle saying “work related to solar panel placement for 100 KWs electricity production has been completed.” Nevertheless, solar panels will start producing energy after the completion of wiring.“Wiring work with inverter is…

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Refiners cry foul as govt seeks fresh legal advice on upgrade policy

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Parco-board

ISLAMABAD: Pakistan’s oil refining sector is unhappy with the government’s move to hire a new local law firm to review the implementation of a policy and Joint Escrow Account Agreement aimed at upgrading the country’s ageing refineries, saying it will cause further delays and uncertainty. The Petroleum Division, in a letter dated Dec. 25, 2023, told the local refineries that the law firm would provide a report on the alignment of the legally binding clauses of the proposed Upgrade Agreement with the laws, rules and regulations under the Pakistan Oil…

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Govt mulls slashing power tariff for industries

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power-tariff

ISLAMABAD: Caretaker Federal Minister for Energy Power and Petroleum Muhammad Ali on Tuesday said the government was mulling to take a major step and cut electricity tariff for industries. Speaking to Geo News, Ali said the caretaker government was going to accomplish a couple of big tasks as they had five to six weeks left before the elected government could take charge. “We are trying to cut electricity tariff for industries because the industrial sector is subsidising households at the moment. There will not be jobs and exports unless the…

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HEC privatisation completed, IMS Engineering plans to upgrade and expand facility

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HEC-Project

ISLAMABAD: The government has concluded the privatisation of the Heavy Electrical Complex (HEC) after handing over the share certificates to the buyer M/S IMS Engineering (Pvt) Limited on Tuesday. In a final settlement of the Rs1.4 billion transaction, the buyer IMS Engineering has not only made full payment but has also taken over additional liabilities of Rs752 million payable to the Bank of Khyber, a statement by the Privatization Commission said Tuesday. The Bank of Khyber issued an NOC for the conclusion of the transaction. The caretaker minister for Privatisation,…

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