Day: June 19, 2024

New terms with IPPs to help govt save Rs120 billion every year

Admin

ISLAMABAD: On payment of the first tranche of outstanding undisputed payables to IPPs in line with the revised contracts, revised terms have become effective, which will result in saving of at least Rs120 billion a year. These major revised terms include rupee based return instead of USD based maximum 17pc per annum in PKR fixed at Rs. 148 USD without any future USD linkage, besides reducing the rate of return for local and foreign investors to 12pc USD instead of 15pc USD. Sources in the Finance Ministry told this correspondent…

Read More

Sindh Government Announces Interest-Free Loans for Solar System Installations

Admin

The Sindh government has introduced an initiative to provide interest-free loans to the middle class for installing solar systems. Sindh Energy Minister Syed Nasir Hussain Shah announced this while addressing the media at his residence, where he also extended Eid greetings and urged people to remember the martyrs. During his address, Minister Shah acknowledged the region’s various issues and highlighted the government’s efforts to alleviate these problems through the budget. He emphasized that ongoing schemes have been prioritized and assured that promises made to the public will be fulfilled. Additionally,…

Read More

Solar panel world record achieved with ‘miracle material’

Admin

Solar panel world record achieved with ‘miracle material’ June 19, 2024 A new efficiency world record for converting sunlight into electricity has been set, in what researchers claim is a huge boost for renewable energy. Researchers at Longi, the world’s biggest solar panel manufacturer, achieved a 34.6 per cent power conversion efficiency using a tandem perovskite-silicon solar cell, beating the previous record by 0.7 per cent. The new record is also more than 7 per cent more efficient than the record for a standard silicon solar cell, which is found in most commercial solar…

Read More