KARACHI: Burj Clean Energy Modaraba (BCEM) has successfully raised Rs1 billion through an upsized Short-Term Green Sukuk, reflecting strong investor confidence in Pakistan’s growing sustainable energy sector.
Listed on the Pakistan Stock Exchange, BCEM increased the issuance size following robust demand from institutional investors. The capital will support the company’s expanding pipeline of renewable projects, including utility-scale wind, solar, and Battery Energy Storage Systems (BESS), particularly for corporate and industrial clients.
The funding will also enable BCEM to strengthen its role in Pakistan’s emerging electric vehicle ecosystem by financing EVs and developing charging infrastructure.
CEO Nabeel Malik termed the oversubscribed Sukuk a strong endorsement of the company’s scalable model, aimed at bridging institutional capital with clean energy deployment.
The privately placed instrument received an ‘A1’ preliminary rating from VIS Credit Rating Company Limited, highlighting BCEM’s solid credit profile and institutional backing.
