Britain has now installed more wind capacity than any other type of power source, with wind power capacity overtaking combined-cycle gas power stations for the first time and ending more than a century of fossil fuels dominating the electricity system, a new report prepared for power group Drax showed on Wednesday. As of June 2023, Britain’s fleet of wind farms reached…
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China’s Solar Boom: Capacity Set To Hit 1 TW By 2026
Investment in solar PV construction hit ~$15.8 billion in the first half of 2023, outpacing other power generation sources. Despite land constraints in coastal regions, provinces like Henan and Shandong lead in distributed solar PV installations, with the nation halfway through its five-year solar installation target. China’s solar sector is set to break records in the coming years . When…
Read MoreG20 Leaders Endorse IRENA Recommendations for Global Renewable Energy Adoption
Abu Dhabi, United Arab Emirates, 11 September 2023 – G20 leaders agreed to accelerate efforts to triple global renewable energy capacity by 2030, aligning with recommendations from the International Renewable Energy Agency (IRENA) on how the world can move in line with the Paris Agreement targets. In a declaration adopted on Saturday, the Group cites a joint report between IRENA and India’s…
Read MoreSunova Solar Shines at Solar Pakistan Exhibition & Conference 2023
[Karachi, Pakistan – September 13, 2023] – Sunova Solar, a leading innovator in the renewable energy industry, recently participated in the Solar Pakistan Exhibition & Conference, held from September 7 to 9 at the Karachi Expo Centre. The event marked a significant milestone for Sunova Solar as it showcased its commitment to providing sustainable energy solutions to the Pakistani market.…
Read MoreHubco’s net profit soars 110% at Rs62b
KARACHI: Hub Power Company (Hubco)’s net consolidated profit soared almost 110% to Rs62 billion in the year ended June 30, 2023 primarily due to increase in sales and a jump in share of profits from associates and joint ventures. The company earned Rs29.58 billion in the previous year, according to the profit or loss account sent to the Pakistan Stock…
Read MorePPIB extends LoI of Mahl HHP to Dec 31, 2024
ISLAMABAD: Private Power & Infrastructure Board (PPIB) has extended Letter of Interest (LoI) of 640-MW Mahl Hydropower Project till December 31, 2024 subject to the condition that the Company shall keep the Bank Guarantee valid for three months beyond the allowed period of extension of the LoI, official sources told Business Recorder. During a recent meeting of PPIB Board, MD PPIB,…
Read MoreNepra grills CEOs of Discos for inflated electricity bills
ISLAMABAD: National Electric Power Regulatory Authority (Nepra) on Tuesday grilled Chief Executive Officers (CEOs) of power Distribution Companies (Discos) for sending inflated electricity bills to the consumers just to show improvement in their recovery, well informed sources told Business Recorder. Last week, the power regulator, which always follows government’s instructions and blindly approves increase in base tariff and QTAs, took serious…
Read MorePower theft of 10.7m units detected in six days
ISLAMABAD: The interim government, launching a nationwide campaign against power theft on September 7, 2023, has uncovered more than 10.7 million units of power theft within state-operated power distribution companies. In the past six days, 6,215 theft cases were unearthed, leading to the filing of 2,380 FIRs, arrest of 369 violators, and imposition of Rs441 million fine. However, the authorities…
Read MoreOGDCL Announces Commencement of Oil and Gas Production from Nashpa-11 Well in KPK Province
ISLAMABAD, September 12, 2023: The Oil & Gas Development Company Limited (OGDCL) on Tuesday announced the successful testing, completion, and commencement of production at the Nashpa-11 well in District Karak, KPK Province This achievement stands as a testament to OGDCL’s commitment to bolstering Pakistan’s energy sector and meeting the escalating needs of both domestic consumers and industrial enterprises.OGDCL is diligently…
Read MoreOGRA DETERMINES RLNG PRICE
Islamabad. The Oil and Gas Regulatory Authority (OGRA) in accordance with the Policy Guidelines of the Federal Government has determined the Regasified Liquified Natural Gas (RLNG) prices for suicompanies with effective from September 1st, 2023 as under:The increase in RLNG prices is due to increase in RLNG brent prices in the international market. The RLNG price notification for the month…
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