Author: Admin

PM Kakar invites Saudi group to invest in alternative energy sector

Admin
K-Electric

ISLAMABAD: Careta­k­er Prime Minister An­­w­a­arul Haq Kakar on Thu­rsday urged the Al-Jomaih Group of Saudi Arabia to invest in the alternative energy sector of Pakistan. Mr Kakar, in a meeting with a four-member delegation, led by the Al-Jomaih Group head Sheikh Abdulaziz Hamm­ad, said Pakistan and Saudi Arabia had brotherly ties which were getting further stronger. Al-Jomaih earlier made a huge investment in K-Electric. The prime minister said that Pakistan greatly valued the Saudi investment and welcomed its investment in the energy sector. He also lauded K-Electric’s strategy to invest…

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USAID Signs MoU With Three Firms

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New-USAID

ISLAMABAD: The United States Agency for International Development (USAID) on Monday signed a memorandum of understanding (MoU) with three Pakistani firms aimed at raising $53 million foreign direct investment within the next 9-12 months. The MoU was signed during the “Investment and Climate Summit”, organised by the USAID under its Investment Promotion Activity (IPA). The three Pakistani firms with whom the MoU was signed included Shams Power, Walee Technologies, and Al Hadeed. The MoU is set to raise $53 million FDI within the next 9-12 months. The Summit also underscored the…

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No payment of Rs20bn to 14 WPPs unwilling to amend PPAs

Admin
wind-power

ISLAMABAD: The incumbent caretaker government has discontinued ongoing negotiations with 14 Wind Power Plants (WPPs) as they are unwilling to amend their power purchasing agreements (PPAs), negating agreements they inked with the government of the day. “The government will not pay Rs20.728 billion which was earlier earmarked for 14 WPPs but they didn’t show respect to the agreements they initialed for making way to amend their power purchase agreements. Since they have not altered the PPAs, the government will now reallocate Rs20.728 billion to clear outstanding liabilities of Government Power…

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Sale of natural gas: Ogra grants licence to SSGC’s subsidiary

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gas-prices

KARACHI: The Oil and Gas Regulatory Authority (OGRA) has granted a licence to SSGC Alternate Energy (Private) Limited (SSGC-AE) to undertake the regulated activity of the sale of natural gas/RLNG to its customers in accordance with the terms and conditions given in the licence. SSGC announces 48-hour gas holiday for all industries The SSGC Alternate Energy (Private) Limited is a wholly-owned subsidiary of Sui Southern Gas Company (SSGC), material information sent to Pakistan Stock Exchange on Wednesday said.

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Getting power from Cat–III wind projects: KE links setting up of infrastructure to Nepra’s nod

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circular-debt-K-electric-ceo

ISLAMABAD: K-Electric (KE) has reportedly linked establishment of infrastructure of power evacuation from category–III wind projects with approval of investment plan from National Electric Power Regulatory Authority (Nepra), well informed sources told Business Recorder. KE’s Chief Strategy Officer Shahab Qader Khan in a letter to Director Wind/ Solar/ Thermal PPIB, stated that the power utility company is actively pursuing the integration of renewable generation into its network, showcasing its commitment to leveraging renewable energy sources and reducing dependence on imported fuels. According to him, KE has already expressed its interest in…

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