Day: July 18, 2024

Chinese Solar Companies Invest in U.S. Manufacturing Amid Inflation Reduction Act Incentives

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Solar-Project

July 17 (Reuters) – Several leading Chinese solar panel manufacturers are establishing operations in the United States, spurred by new clean energy manufacturing subsidies under President Joe Biden’s 2022 Inflation Reduction Act. Here are some notable investments: ILLUMINATE USAIlluminate, a joint venture between Chinese solar equipment maker Longi and U.S. clean energy project developer Invenergy, began producing solar panels at a five-gigawatt plant in Pataskala, Ohio, in February. The plant, aiming for full capacity by the end of 2024, will employ 1,000 workers. Illuminate is investing $600 million in equipment,…

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Fitch Forecasts Political and Economic Outlook for Pakistan

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Fitch-ratings

ISLAMABAD: Fitch Ratings has forecasted that the current government led by Pakistan Muslim League (N) (PML-N) will remain in power for the next 18 months. In its report on Pakistan, Fitch also predicted that the founder and chairman of Pakistan Tehreek-e-Insaf (PTI) will remain in custody in the near future. The report highlighted external payment pressures as a significant economic risk for Pakistan’s economy. It noted that the inflation rate might decrease by the end of the current fiscal year. Fitch observed that the Pakistani government has set extremely challenging…

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IHC to Investigate Coal Purchase Irregularities by Power Plants

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New-Project

ISLAMABAD: The Islamabad High Court (IHC) will investigate alleged irregularities in coal procurement for power plants, which have reportedly inflated electricity generation costs. A group of petitioners filed an application questioning the coal procurement bidding process. They urged the court to direct the Ministry of Energy to conclude its inquiry, initiated after the power division’s letter on March 1. The petitioners also seek directives for the National Electric Power Regulatory Authority (Nepra) to establish effective and transparent coal procurement guidelines for power producers. During a hearing before Justice Miangul Hassan…

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SNGPL Procures Rotary Meters to Reduce Line Losses

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New-SNGPL

LAHORE: Sui Northern Gas Pipelines Ltd (SNGPL) has initiated the procurement of over 5,000 rotary gas meters and allied materials, including electronic volume correctors (EVCs), from a Canadian firm, with deliveries beginning in September. This procurement is a crucial part of a larger project aimed at significantly reducing Unaccounted-for Gas (UFG) or line losses. In the project’s first phase, 1,470 meters were successfully installed at Town Border Stations (TBSs) and gas measurement facilities in Lahore, Rawalpindi, Islamabad, Peshawar, and Mardan. Phase 2 will see the installation of over 5,000 meters…

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