Month: May 2024

Deal signed under 20-year BOOT model: Burj, PCL to develop and finance first wind power project

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Wind-Solar

KARACHI: Burj Solar and Power Cement Limited (PCL) have signed an agreement to develop and finance the country’s first distributed generation wind power project of 9.6 megawatts (MW). Under the 20-year Build-Own-Operate-Transfer (BOOT) model, Burj Solar will install two 4.8 MW wind turbines at PCL’s premises, with Orient Energy serving as the contractor. This project builds on the successful partnership between the two companies, following Burj’s previous 7 MW solar power plant for PCL commissioned in 2022 under the same BOOT structure. The distributed wind project holds immense commercial viability,…

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IPP payments, Gwadar power plant: MoFA asks PD to address Chinese concerns

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ISLAMABAD: The Ministry of Foreign Affairs (MoFA) has asked Power Division to develop concrete measures to address Chinese concerns, especially those related to the delayed IPP payments, Gwadar power plant and return on investment to the stakeholders in CPEC projects, well informed sources told Business Recorder. The overdue amount of CPEC power projects has reached Rs 526 billion, mainly due to delay in release of subsidies for the last quarter of current fiscal year, low collection due to winter season and another hit of Rs 100 billion arrears on account…

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PPIB urges S Arabia to finalise G2G framework pact

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Power-generation

ISLAMABAD: The Private Power & Infrastructure Board (PPIB) has asked Saudi Arabia to expedite finalization of Government to Government (G2G) framework agreement, enabling both countries to proceed towards commercial agreements and tariffs on about a dozen projects, well-informed sources told Business Recorder. A high-level Saudi delegation led by the Foreign Minister visited Pakistan during the third week of April and held meetings at the highest level including line ministries to finalize agenda for the forthcoming private sector delegation to be led by Investment Minister which is due on May 5,…

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Carbon markets new opportunity for Pakistan to improve economic situation, reduce carbon emissions: Linulf

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Jakob-Linulf

ISLAMABAD: Ambassador of Denmark, Jakob Linulf on Thursday said carbon markets are a new opportunity for Pakistan to improve its economic situation and reduce carbon emissions for a green development through sustainable and environment friendly practices. He was addressing to the one-day capacity building workshop for journalists on Climate-Smart Reporting: Carbon Market and Equitable Development jointly organized by the Sustainable Development Policy Institute (SDPI) and the Embassy of Denmark. Ambassador Jakob Linulf said climate change was casting adverse impacts on the globe and it was equally important for Pakistan and…

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Exploration firm targets major fields OGDCL aims to enhance hydrocarbon output, tackle crisis with new technology

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ogdcl

Exploration firm targets major fields OGDCL aims to enhance hydrocarbon output, tackle crisis with new technology May 3, 2024 ISLAMABAD: Oil and Gas Development Company Limited (OGDCL), the largest hydrocarbon explorer in Pakistan, has targeted 20 major fields, mainly in the north and south, to enhance production and contribute to overcoming the energy crisis in the country. Owing to the rising demand for gas, Pakistan is relying more on the imported liquefied natural gas (LNG) as its share has swelled to 24% in the energy mix. However, in many countries,…

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