ISLAMABAD: The China Three Gorges South Asia Investment Ltd (CSAIL) launched its “ESG Performance Report 2023” outlining its contribution to Pakistan’s national grid from hydel, solar and wind power projects under the China-Pakistan Economic Corridor (CPEC), a flagship project of Belt and Road Initiative (BRI). The launching ceremony was held at a seminar titled, “Development Experience of Hyrdo, Wind Farm…
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Additional increase draws criticism from industries KARACHI: In a bid to offset a staggering shortfall of Rs47.77 billion in its revenue from the sale of indigenous gas during the current fiscal year 2023-24, Sui Southern Gas Company Limited (SSGC) has approached the Oil and Gas Regulatory Authority (Ogra), seeking approval for an additional increase of Rs266.18 per mmbtu in end-consumer…
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KARACHI: Troubled oil marketing company Hascol Petroleum Ltd said on Monday that Millat Energy Group is interested in buying 76 per cent of its “fully diluted share capital” through a subscription of new shares. Fully diluted share capital reflects the total number of shares a company would have if all outstanding options and other rights to subscribe for — or…
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December 18, 2023 (MLN): The Green Presidency of Pakistan is a flagship initiative that is expected to lead to a 42.5% reduction in energy usage at Aiwan-e-Sadr, equivalent to a decrease of 3,144 tonnes of greenhouse gases or the planting of 142,090 mature trees, the president, Arif Alvi said while addressing an event at Aiwan-e-Sadr. The president highlighted that transitioning to…
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Islamabad: Islamabad is gearing up to host the 3rd International Conference on Pakistan Hydropower, a global gathering of energy experts organized by The Energy Update in collaboration with the Private Power Infrastructure Board (PPIB) and the International Hydropower Association (IHA). Scheduled for December 20, the conference carries the theme “Hydropower: A Renewable Energy Source for a Sustainable Future,” promising pivotal…
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ISLAMABAD: The Ministry of Science and Technology (MoST) has prepared a plan to abolish Pakistan Council of Renewable Energy Technologies (PCRET) as an entity and transfer all its assets, budget and resources to National University of Sciences and Technology (NUST), official sources told Business Recorder. Sharing the details sources said in pursuance of the decision of the 5th meeting of the…
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ISLAMABAD: With over Rs400 billion in government claims and Rs210bn in counterclaims from K-Electric, the Economic Coordination Committee (ECC) of the Cabinet approved a roadmap for settling long-standing issues with Karachi-based integrated private utility, including additional power supply from the national grid, 10-year future generation commitments by KE, and financial settlements through mediation. The single-point meeting of the ECC, presided…
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PARIS: Energy investments should be informed by the COP28 agreement to accelerate the move away from fossil fuels this decade, the head of the International Energy Agency (IEA) said on Friday. “After COP28, governments, companies, investors, need to tell the people around the world what actions they are taking to move the world away from fossil fuels,” Executive Director Fatih…
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ISLAMABAD: M/s Hub Power Company (Hubo) has demanded Central Power Purchasing Agency –Guaranteed (CPPA-G) to pay Rs 13.47 billion which includes interest matured through arbitration. In a letter to Chief Executive Officer (CEO) CPPA-G Rihan Akhtar, Chief Executive Officer (CEO) Hub Power Company, Kamran Kamal referred to the award approved by former Chief Justice Nasir ul Mulk in arbitration proceedings…
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ISLAMABAD: Caretaker Minister for Power and Petroleum Muhammad Ali has said that the government is working on revising electricity tariff structure to reduce the cost of electricity as export industry cannot compete with regional competitors that are supplying electricity at 9 Cents/ kWh. Testifying before the reconstituted Senate Standing Committee on Power, now headed by Senator Azam Nazir Tarar, the…
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