Category: Highlights

Wind power giants find little shelter from sector troubles

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wind-energy

FRANKFURT/COPENHAGEN, Feb 7 (Reuters) – The world’s three biggest wind power groups – Siemens Energy (ENR1n.DE), opens new tab, Orsted and Vestas (VWS.CO), opens new tab – on Wednesday gave a sober view of the year ahead for an industry buffeted by project delays, equipment problems and inflation. Siemens Energy, the world’s largest maker of offshore wind turbines, expects a 2024 loss before special items of around 2 billion euros ($2.2 billion) at Siemens Gamesa. The wind division has had to deal with the cost of addressing quality problems affecting some onshore models. Siemens Energy…

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Saudi firm keen to invest in renewable energy sector

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Global-power

ISLAMABAD: Saudi company ACWA Power is reportedly ready to offer low tariff for solar project of 600 MWp subject to minimum project risk in Pakistan as it has installed solar projects at Cents 2 per unit in UAE and Oman, well informed sources told Business Recorder. The ACWA Power has been interested to invest in the renewable energy sector in Pakistan for the past several years. The company has also been given directions in this regard by the Kingdom’s leadership. However, the investment has not materialised due to several reasons on…

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Hesco, Gepco privatisation okayed

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Hesco-Gepco

CCoP increases Privatisation Commission budget by Rs2.2b or 175% ISLAMABAD: The Cabinet Committee on Privatisation (CCoP) on Wednesday approved handing over the management control of the two loss-making power distribution companies to the private sector aimed at stemming their losses and improving efficiency. Headed by Privatisation Minister Fawad Hasan Fawad, the CCoP also approved revising the budget of the Privatisation Commission, jacking it up by 175% or Rs2.2 billion. The Commission’s budget has increased phenomenally during the course of the fiscal year to make room for the majority of the…

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Water scarcity sparks dam project scrutiny

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neelum-jhelum

Ministry of Water Resources once again addresses crisis caused by Neelum-Jhelum project ISLAMABAD: The Ministry of Water Resources (MoWR) has once again addressed the issue of water shortage caused in the Azad Jammu and Kashmir’s (AJK) capital after the completion of the 969 MW Neelum Jhelum Hydropower Project (NJHPP) in a recent meeting of the Cabinet Committee on Energy. The NJHPP is a run-of-the-river hydropower project that started electricity generation in April 2018. It diverts the River Neelum through a system of tunnels out-falling into the River Jhelum. A technical…

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ISPR greets nation on peaceful conduct of 2024 general elections, praises armed forces in maintaining peace in polls

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General-Election

Rawalpindi, 8 February 2024: We extend heartfelt congratulations to the nation on the generally peaceful and violence-free conduct of the general elections. The armed forces alongside other Law Enforcement Agencies are proud to have played a pivotal role in providing security during the conduct of the sacred electoral process, in aid of civil power, and in accordance with the constitution of Pakistan. With the deployment of 137,000 army personnel and civil armed forces at approximately 6,000 selected most sensitive polling stations and over 7800 QRFs, a safe and secure environment…

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