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Tag: China

Pakistan and China to Ink $16 Billion Debt Re-Profiling Pacts During Premier Li’s Visit

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cpec

ISLAMABAD: Pakistan and Chinese power companies are set to sign agreements on debt reprofiling and a moratorium on over $16 billion in payments during Chinese Premier Li Qiang’s upcoming visit, sources from the Private Power and Infrastructure Board (PPIB) have revealed. The agreements, involving nine power projects and one transmission line under the China-Pakistan Economic Corridor (CPEC), will aim to…

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China asks Pakistan to beef up security for Chinese projects in country after Karachi terror attack

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China-Karachi

Karachi The government should extend foolproof protection to the foreign and Pakistani workers working on strategically vital power projects to ensure Pakistan’s energy security.In its latest statement, the Embassy of China in Islamabad called on Pakistan’s government to beef up the security for Chinese nationals, business organisations, and China-backed developed projects in the country.The statement was issued after an attack…

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PM Orders Inclusion of Diamer Bhasha Hydropower Project in CPEC

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Bhasha-Dam

ISLAMABAD: Prime Minister Shehbaz Sharif has instructed authorities to incorporate the $8 billion Diamer Bhasha Hydropower Project (DBHP) into the China-Pakistan Economic Corridor (CPEC), sources from the Ministry of Water Resources revealed. The project promises significant benefits, including 6.4 MAF water storage and the generation of 18.1 billion units of electricity annually. While $500 million in foreign financing is secured,…

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3 Killed, Including 2 Chinese Nationals, in Karachi Airport Blast

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Chinese-Nationals

Three people, including two Chinese nationals, were killed and 11 others injured in a massive explosion near Karachi’s Jinnah International Airport on Sunday night. Conflicting reports initially described the blast as either an IED explosion or an accident involving a vehicle and an oil tanker. The Baloch Liberation Army’s Majeed Brigade claimed responsibility, though this remains unverified. Footage showed vehicles…

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CPPCL Shows Conditional Interest in Gwadar Power Plant Amid Uncertainty

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cpec

ISLAMABAD: Chinese company CIHC Pak Power Company (Pvt) Ltd (CPPCL) has expressed conditional willingness to continue work on the 300-MW Gwadar coal power plant if both the Pakistani and Chinese governments decide to abandon the project, according to well-placed sources within the Private Power Infrastructure Board (PPIB). The 300-MW coal-fired plant, part of the China-Pakistan Economic Corridor (CPEC), has faced…

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Chinese Photovoltaic Exports to Pakistan Surge Amid Growing Solar Demand

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solar-energy

BEIJING: Pakistan’s demand for solar photovoltaics (PV) is skyrocketing as the country faces chronic power shortages and the aftermath of frequent floods. In August 2024 alone, China’s inverter exports to Pakistan reached 326 million yuan, a remarkable 429.04% year-on-year increase, according to the China Photovoltaic Industry Association (CPIA). Pakistan has emerged as the second-largest overseas market for Chinese PV modules,…

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OGDCL Signs MOU with China’s CCDC for Shale and Tight Gas Development

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China-OGDCL

In a significant move aimed at addressing Pakistan’s energy needs, the Oil and Gas Development Company Limited (OGDCL) has signed a Memorandum of Understanding (MOU) with China’s CCDC, a leading player in drilling and upstream oil field services. The agreement focuses on exploring Pakistan’s shale and tight gas potential, utilizing indigenous resources to meet the country’s growing energy demands. The…

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Chinese Solar Panel Surge Strains Pakistan’s Debt-Ridden Power Grid

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Solar power

Pakistan’s businesses are rushing to install low-cost Chinese solar panels in response to surging electricity prices, which have made the state-owned grid one of the most expensive in South Asia. Major industries, such as Forward Sports, have dramatically increased their solar capacity to reduce reliance on the costly national power supply. This rapid switch to solar, driven by Pakistan’s harsh…

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Towards Green Energy: Leveraging CPEC for Pakistan’s Climate Goals

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New-CPEC

Pakistan faces immense challenges in addressing its climate crisis, with the World Bank estimating a need for $348 billion by 2030 to meet climate adaptation and mitigation goals. Of this, $152 billion is allocated for adaptation and resilience, while $196 billion is needed for decarbonization. The nation’s 2021 Nationally Determined Contributions set an ambitious goal of reducing projected emissions by…

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28 Companies Honored at Solar Technology Excellence Awards 2024 in Lahore

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Solar-Award

Lahore – The Solar Technology Excellence Awards 2024, a prestigious event celebrating innovation and leadership in the solar energy sector, was held at a local hotel in Lahore. The ceremony, organized by Energy Update in partnership with the Ministry of Energy (Power Division), Private Power Infrastructure Board (PPIB), and Pakistan Solar Association, recognized 28 companies for their outstanding contributions to…

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