KARACHI: Power Cement Limited (PCL) and Burj Clean Energy Modaraba (BCEM) have signed Pakistan’s first-ever green captive power transaction — a landmark Rs1.5 billion deal to set up a 7.5MW wind captive power plant.
According to a filing at the Pakistan Stock Exchange (PSX) on Monday, the project marks a major step in Pakistan’s industrial decarbonization drive and transition to sustainable energy. The initiative is being financed through a consortium led by The Bank of Punjab (BOP), with participation from the National Bank of Pakistan (NBP) and Pak Kuwait Investment Company.
Under the financing structure, BOP acted as lead bank, adviser, arranger, and inter-creditor agent, while NBP assumed the role of security agent and joint mandated lead arranger. Pak Kuwait Investment Company participated as a Musharaka partner and equity provider, building on its earlier support for BCEM’s solar initiatives.
Orient Energy Systems will execute the project, deploying Goldwind wind turbines at the PCL site.
“This collaboration reflects strong institutional support for Pakistan’s clean energy transition,” BCEM noted. “The project underscores Power Cement’s commitment to decarbonising operations and enhancing energy efficiency, while also highlighting BCEM’s role as Pakistan’s first Shariah-compliant clean energy investment fund.”
The wind captive plant is expected to provide PCL with reliable, on-site renewable electricity, reduce dependence on fossil fuels, and set a precedent for private-sector partnerships in industrial clean energy solutions across Pakistan.
