Saudi Arabia looks to have notched up a new record-low price for large-scale solar power, with one of seven projects recently signed up to power purchase agreements contracted to sell electricity for just over $US10 per megawatt-hour ($A13/MWh). According to local press, Saudi Arabia’s energy minister Prince Abdulaziz Bin Salman announced the new record on Thursday last week at the…
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KARACHI: The Pakistan Petroleum Limited has received Rs903.218 million from the National Accountability Bureau (NAB) against outstanding receivables from Byco Petroleum Pakistan Limited, the company announced on Monday. The PPL informed the Pakistan Stock Exchange (PSX) about it in a regulatory filing and said that the company would pursue for remaining over Rs253m. “In pursuance of Rule 5.6.1 of your…
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In a first of its kind, a fast-charging unit station for electric vehicles has been installed by Tesla Industries in Islamabad, paving way for the e-vehicles to be recharged, ARY NEWS reported on Friday. The unit was inaugurated by the President of the Islamabad Chamber of Commerce Sardar Yasir Ilyas along with Tesla Industries CEO Aamir Hussain. Tesla CEO said…
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Australia’s Clean Energy Council (CEC) says in a newly published paper that large-scale battery energy storage has become the best way to spread energy generated by solar and wind throughout any day, and to instantly respond to peak energy needs in the National Electricity Market (NEM) for long and short durations. The paper compares the levelized cost of energy delivered by a…
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China has admitted its Covid vaccines do not work well – which could explain why Chile is suffering a resurgence despite having one of the best rollouts in the world. In an extremely rare confession, the head of the Chinese Centre for Disease Control and Prevention, Gao Fu, said the jabs ‘don’t have very high protection rates’ against coronavirus symptoms. They are being…
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The Biden administration is stepping up scrutiny of China’s plans for a digital yuan, with some officials concerned the move could kick off a long-term bid to topple the dollar as the world’s dominant reserve currency, according to people familiar with the matter. Now that China’s digital-currency efforts are gathering momentum, officials at the Treasury, State Department, Pentagon and National…
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DUBAI: Mumbai-headquartered Larsen & Toubro (L&T) has secured a contract to build the Sudair solar PV project in Saudi Arabia. The renewables arm of L&T’s Power Transmission and Distribution business has bagged the turnkey engineering, procurement, and construction contract for the Riyadh plant, which has a total capacity of 1.5 gigawatts – the biggest in the world. “The project that is…
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Hotels in the UAE were the world’s second busiest after China in 2020 due to government efforts to contain the spread of the Covid-19 virus, encourage domestic tourism and take measures to accelerate the sector’s recovery, the Ministry of Economy said. The country hosted 14.8 million guests who spent an average of 3.7 nights at 1,089 establishments last year for…
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A suspension bridge was inaugurated in Khairabad District, Chitral to solve the problem of rural isolation that has been affecting the community especially during the time of heavy rainfall. Due to adverse conditions and limited mobility, residents were deprived of crucial socio-economic opportunities. The bridge has been constructed in partnership with Pakistan Poverty Alleviation Fund (PPAF) and Sarhad Rural Support…
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Prime Minister Imran Khan has written a letter to Microsoft co-founder Bill Gates and invited him to work together to save the world from the dangers of climate change. PM Imran, in his letter has said that Pakistan is on the front lines of climate challenge and is amongst the top countries “continuously impacted” by climate change over the past…
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