Author: Admin

Solar Corporate Funding Drops 24% to $26.3 Billion in 2024 Amid Market Uncertainty

Admin
soalr energy

Corporate funding in the solar sector declined sharply in 2024, totaling $26.3 billion, according to Mercom Capital Group’s annual solar funding and M&A report. This represents a 24% drop from $34.3 billion in 2023, encompassing 157 deals, down from 161 the previous year. Key findings include: Venture Capital Funding: Dropped 36% to $4.5 billion, with 87% ($3.9 billion) allocated to 48 solar downstream companies. Top recipients included Pine Gate Renewables ($650 million) and Nexamp ($520 million).Public Market Financing: Fell 59% year-on-year, reaching $3 billion. Nine companies went public, raising $1.3…

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Govt Proposes Tougher Laws for LPG and Explosives Handling

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lpg-plant

ISLAMABAD: The government has proposed stringent penalties for unauthorised handling and storage of liquefied petroleum gas (LPG) and explosives, designating them as non-bailable offenses. Violators could face up to 14 years of rigorous imprisonment and fines as high as Rs20 million, aiming to enhance public safety and deter illegal activities. Currently, offenders face minimal penalties of up to six months in prison or fines of Rs3,000, deemed inadequate by the Oil and Gas Regulatory Authority (Ogra). “The current laws fail to reflect the severity of the risks posed by such…

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PM Orders Two-Pronged Strategy for Privatisation of Power Discos

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Power genration

ISLAMABAD: Prime Minister Shehbaz Sharif has directed the Power Division to implement a dual approach for Power Distribution Companies (Discos), focusing on both provincialisation and privatisation, to fulfill commitments to development partners, according to informed sources. During a recent meeting on power tariff reduction and Discos’ ownership, the Prime Minister instructed the Power Division to prepare a comprehensive roadmap and timeline for transferring ownership and control of Discos to provincial governments. This process is to be undertaken in consultation with provinces and submitted for his review and approval. Simultaneously, privatisation…

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New Gwadar Airport Welcomes First Commercial Flight

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Gwadar-Airport

RAWALPINDI: Pakistan International Airlines (PIA) will make history today as flight PK-503 from Karachi lands at the New Gwadar International Airport, marking the commencement of its operations. An official from the Pakistan Airport Authority (PAA) confirmed the milestone, with the inaugural flight scheduled to depart Karachi’s Jinnah International Airport at 9:20 am. The aircraft will receive a ceremonial water salute upon arrival. Prominent passengers on board include high-ranking officials from the aviation division, reflecting the significance of the occasion. Defence and Aviation Minister Khawaja Asif will greet passengers at the…

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Centre, KP Seek Clarity on Controversial Gas Sale Without Bidding

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Gas-Project

ISLAMABAD: The Prime Minister’s Office (PMO) and the Khyber Pakhtunkhwa (KP) government have sought clarification from the Petroleum Division regarding the proposed sale of gas from the Razgir field in Kohat without a competitive bidding process. This directive was issued by the PMO on January 2 following reports that a minority shareholder in the newly developed field had negotiated a gas sale agreement with a third party, bypassing open bidding protocols. Despite reminders, the Petroleum Division has yet to respond. KP’s Directorate General of Petroleum Concessions (DGPC) has also emphasized…

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