Author: Admin

Bridging Climate Finance Gaps: Pakistan’s Role in Global Carbon Markets

Admin
Climate-Finance

ISLAMABAD: The 29th UN Climate Change Conference (COP29) in Baku, Azerbaijan, brought together 200 countries to address the critical issues of climate finance and adaptation challenges. Central to the discussions were the New Collective Quantified Goal (NCQG) and Article 6, both offering transformative potential for achieving global climate and development objectives. Building on the 2009 commitment of mobilizing $100 billion annually—a goal only met in 2022—the NCQG aims to unlock climate financing at a scale necessary to support vulnerable nations. Reports suggest that developed countries anticipate a trillion-dollar target to…

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WWEA Advocates for 100% Renewable Energy Strategy Beyond Tripling Targets at COP29

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Cop-29-3

Bonn/Baku— The World Wind Energy Association (WWEA) delivered a powerful call to action at the UN Climate Change Conference COP29 in Baku, urging nations to transition to a fully renewable energy future. Hosting the official side event Renewable Energy Transformation: From Tripling to 100% Renewable Energy, WWEA, in collaboration with the World Bioenergy Association (WBA) and the Confederation of Indian Industry (CII), emphasized the need for strategies surpassing the goal of tripling renewable energy capacities by 2030. WWEA highlighted the economic and societal benefits of transitioning to 100% renewable energy,…

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GoodWe Launches Global Partner Summit at New Suzhou Headquarters to Propel Clean Energy Innovation

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Goodwe-0001

Suzhou, China — GoodWe, a global leader in solar inverters and energy solutions, has inaugurated its first Global Partner Summit at its newly established global headquarters in Suzhou, China. Under the theme Empowering the Future of Energy Together: Opportunities, Challenges, and Collaborations, the summit brought together 500 industry leaders from across the globe to foster collaboration, share insights on industry trends, and showcase GoodWe’s latest advancements in renewable energy technologies. In his keynote address, Daniel Huang, Founder and CEO of GoodWe, highlighted the company’s commitment to collaborative growth: “Our partners…

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Cnergyico Approved to Export 30,000 Tonnes of Furnace Oil Amid Declining Local Demand

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Engro Powergen Qadirpu

KARACHI: A consortium of textile companies has formally withdrawn its public announcement of intention (PAI) to acquire a 68.89% majority stake in Engro Powergen Qadirpur Limited (EPQL), a subsidiary of Engro Energy Limited. The announcement was made by Arif Habib Limited (AHL), the manager to the offer, in a notice to the Pakistan Stock Exchange (PSX) on Friday. The consortium, comprising Liberty Mills Limited, Soorty Enterprises (Pvt) Limited, Affinity Capital Pvt Limited (a Master Group subsidiary), and individual investors, had initially expressed interest in February 2024. The PAI was extended…

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Nepra Reviews Draft Distribution Code 2024 to Modernize Power Grid

Admin
Power Division

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) is evaluating the newly proposed Distribution Code 2024, a framework aimed at improving the reliability, safety, and efficiency of Pakistan’s electricity distribution network. Targeting Distribution Network Operators (DNOs), power generators, and bulk power consumers with loads exceeding 1 MW, the draft code supports market-based energy reforms and reflects the evolving regulatory and technological landscape. The draft, submitted by ex-Wapda distribution companies (XW-Discos), aligns with Nepra Licensing (Distribution) Regulations 2022 and the Competitive Trading Bilateral Contract Market (CTBCM) model. It incorporates enhanced operational…

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