Time to accelerate the transformation towards 100% renewable energy globally and to create a Global Renewable Energy Fund
On the occasion of WorldREnewDay 2024, the Global 100% Renewable Energy Platform declares
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PODGORICA: A major power outage struck Montenegro, Bosnia, Albania, and most of Croatia’s coast on Friday, severely disrupting businesses, shutting down traffic lights, and leaving residents without air conditioning during a heatwave. Montenegro’s energy minister attributed the shutdown to a sudden surge in power consumption caused by the extreme heat. The interconnected power distribution systems across the Balkans facilitate transfers and trading, making the region vulnerable to such disruptions. “This was just waiting to happen in this heat,” said Gentiana, a 24-year-old student in Podgorica. The blackout, which began around…
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KARACHI: Mega Motor Company, a subsidiary of Hub Power Company Ltd (Hubco), is set to enter the electric vehicle (EV) market in Pakistan in collaboration with Chinese EV giant BYD Auto Industry Company Limited. Hubco announced in a notification to the PSX on Friday, “Hub Power Holdings Limited, a wholly-owned subsidiary of Hub Power Company Limited, through its associated company, Mega Motor Company (Private) Limited, is entering into a new line of business in electric vehicles with BYD Auto Industry Company Limited in Pakistan.” The venture will include the execution…
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ISLAMABAD: In the fiscal year 2025, electricity consumers will face a significant burden, paying Rs1,952 billion in capacity charges. This amount will contribute Rs18.39 per unit to the new power purchase price (PPP) of Rs30.88 per unit. For the outgoing fiscal year, the capacity charges revenue target was Rs1,874 billion, with consumers paying Rs17.02 per unit until June 30, 2024. According to a NEPRA communiqué sent to the government, the power purchase price for distribution companies (Discos) has increased by Rs4.86 per unit (18.677%) from Rs26.02 in FY24 to Rs30.88…
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LAHORE: In an effort to reduce electricity costs and promote renewable energy, the Punjab government has allocated significant funds for the installation of solar systems and housing support in the upcoming fiscal year’s budget. During the provincial assembly’s budget speech on Thursday, Finance Minister Mujtaba Shujaur Rehman announced the provision of free solar systems for consumers using up to 100 units of electricity per month. The initiative, part of the Chief Minister’s Roshan Gharana Programme, is set to cost Rs9.5 billion. This program aims to provide relief to households burdened…
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