Category: News & Announcement

Pakistan’s desire to maintain strategic relations with China has resulted in the $62 billion China-Pakistan Economic Corridor (CPEC), a set of infrastructure projects, being mired in insufficient transparency. But a Committee formed by Pakistani Prime Minister Imran Khan to examine the causes for the high cost of electricity to Pakistani consumers has lifted the lid on corruption involving Chinese private power producers in Pakistan. The report reveals that the Huaneng Shandong Ruyi (Pak) Energy (HSR) or the Sahiwal and the Port Qasim Electric Power Company Limited (PQEPCL) coal plants under…

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Oil prices have touched zero and became even negative recently. A debate has ensued in Pakistan that we should have bought cheaper oil. It is a different matter that around the same time, there was news of diesel shortages. Petroleum Division, probably, projected lesser demand due to corona as it is we are always short of liquidity and foreign exchange and even storage. Buying more is not in our psyche or system. It was a unique situation. Prices do vary and there is a scope for saving money in buying…

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The New Mexico Public Regulatory Commission approved on Wednesday one solar and one solar-plus-storage project to serve El Paso Electric’s customers. The projects were proposed to serve southern New Mexico and west Texas customers, and start service in the summer of 2022. One project will add 100 MW of solar for $0.015 per kWh while the second will add 100 MW of solar and 50 MW of storage for $0.021 per kWh, record-low prices for solar and storage in New Mexico. The PPAs mark the first time El Paso Electric uses…

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18 May 2020 (IEEFA Australia) ‒ Bangladesh’s plan for significant coal- and LNG-fired power plant additions will lock the nation into substantial overcapacity, with major financial implications, according to a new study released today by the Institute for Energy Economics and Financial Analysis (IEEFA). The coronavirus pandemic is currently lowering power demand significantly in Bangladesh, and in markets globally. This is increasing financial stress on Bangladesh’s Power Development Board by reducing revenue whilst capacity payments to idle plants have to be maintained. The pandemic is also delaying China-backed Belt and…

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ISLAMABAD: The Pakistan Energy Sukuk-II of Rs200 billion book-running that began on Monday in Pakistan Stock Exchange (PSX) attracted a strong demand and was oversubscribed by 62.5 percent at its first day, indicating that the government will discover low interest rate. The book running process will also continue on Tuesday (today), a senior official told The News. Since, at the first day high interest of investors in government guaranteed sharia compliant securities was seen, they expect that over subscription can cross 100 percent. According to market sources, the Rs200 billion…

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