Day: January 25, 2024

USAID Signs MoU With Three Firms

Admin
New-USAID

ISLAMABAD: The United States Agency for International Development (USAID) on Monday signed a memorandum of understanding (MoU) with three Pakistani firms aimed at raising $53 million foreign direct investment within the next 9-12 months. The MoU was signed during the “Investment and Climate Summit”, organised by the USAID under its Investment Promotion Activity (IPA). The three Pakistani firms with whom the MoU was signed included Shams Power, Walee Technologies, and Al Hadeed. The MoU is set to raise $53 million FDI within the next 9-12 months. The Summit also underscored the…

Read More

No payment of Rs20bn to 14 WPPs unwilling to amend PPAs

Admin
wind-power

ISLAMABAD: The incumbent caretaker government has discontinued ongoing negotiations with 14 Wind Power Plants (WPPs) as they are unwilling to amend their power purchasing agreements (PPAs), negating agreements they inked with the government of the day. “The government will not pay Rs20.728 billion which was earlier earmarked for 14 WPPs but they didn’t show respect to the agreements they initialed for making way to amend their power purchase agreements. Since they have not altered the PPAs, the government will now reallocate Rs20.728 billion to clear outstanding liabilities of Government Power…

Read More

Sale of natural gas: Ogra grants licence to SSGC’s subsidiary

Admin
gas-prices

KARACHI: The Oil and Gas Regulatory Authority (OGRA) has granted a licence to SSGC Alternate Energy (Private) Limited (SSGC-AE) to undertake the regulated activity of the sale of natural gas/RLNG to its customers in accordance with the terms and conditions given in the licence. SSGC announces 48-hour gas holiday for all industries The SSGC Alternate Energy (Private) Limited is a wholly-owned subsidiary of Sui Southern Gas Company (SSGC), material information sent to Pakistan Stock Exchange on Wednesday said.

Read More

Getting power from Cat–III wind projects: KE links setting up of infrastructure to Nepra’s nod

Admin
circular-debt-K-electric-ceo

ISLAMABAD: K-Electric (KE) has reportedly linked establishment of infrastructure of power evacuation from category–III wind projects with approval of investment plan from National Electric Power Regulatory Authority (Nepra), well informed sources told Business Recorder. KE’s Chief Strategy Officer Shahab Qader Khan in a letter to Director Wind/ Solar/ Thermal PPIB, stated that the power utility company is actively pursuing the integration of renewable generation into its network, showcasing its commitment to leveraging renewable energy sources and reducing dependence on imported fuels. According to him, KE has already expressed its interest in…

Read More

Solar PV projects under G2G mode: PM allows PD to seek approval of summary from Cabinet

Admin
solar-energy

ISLAMABAD: Caretaker Prime Minister Anwar-ul-Haq Kakar has allowed Power Division to seek approval of a summary on draft G2G framework agreements with Saudi Arabia, United Arab Emirates (UAE), Qatar and Kuwait, etc, from the federal cabinet through circulation, well-informed sources told Business Recorder. Sharing the details, sources said the cabinet on October 18, 2022 approved several interventions under the Framework Guidelines for Fast-Track Solar PV Initiatives 2022 for fast-track deployment of solar PV projects including, inter alia, substitution of expensive imported fossil fuels with solar PV Energy Initiative. Under this initiative,…

Read More