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GoodWe Launches Global Partner Summit at New Suzhou Headquarters to Propel Clean Energy Innovation

November 25, 2024November 25, 2024 Admin

Suzhou, China — GoodWe, a global leader in solar inverters and energy solutions, has inaugurated its first Global Partner Summit at its newly established global headquarters in Suzhou, China. Under the theme Empowering the Future of Energy Together: Opportunities, Challenges, and Collaborations, the summit brought together 500 industry leaders from across the globe to foster collaboration, share insights on industry…

Cnergyico Approved to Export 30,000 Tonnes of Furnace Oil Amid Declining Local Demand

November 23, 2024November 23, 2024 Admin

KARACHI: A consortium of textile companies has formally withdrawn its public announcement of intention (PAI) to acquire a 68.89% majority stake in Engro Powergen Qadirpur Limited (EPQL), a subsidiary of Engro Energy Limited. The announcement was made by Arif Habib Limited (AHL), the manager to the offer, in a notice to the Pakistan Stock Exchange (PSX) on Friday. The consortium,…

Nepra Reviews Draft Distribution Code 2024 to Modernize Power Grid

November 23, 2024November 23, 2024 Admin

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) is evaluating the newly proposed Distribution Code 2024, a framework aimed at improving the reliability, safety, and efficiency of Pakistan’s electricity distribution network. Targeting Distribution Network Operators (DNOs), power generators, and bulk power consumers with loads exceeding 1 MW, the draft code supports market-based energy reforms and reflects the evolving regulatory and…

COP29 Summit Extends as $250 Billion Climate Finance Proposal Faces Pushback

November 23, 2024November 24, 2024 Admin

BAKU: The COP29 climate summit in Baku stretched beyond its scheduled timeline on Friday as negotiations stalled over a contentious draft deal proposing $250 billion in annual climate finance by 2035. The proposal has sparked criticism from both developed and developing nations, deepening divisions. Late on Friday, the COP29 presidency unveiled what it hopes will be the final framework for…

Korean Hydropower Projects in KPK Stalled Amid Regulatory Challenges

November 23, 2024November 24, 2024 Admin

ISLAMABAD: The Power Division has reportedly declined to support Korean firms developing hydropower projects in Khyber Pakhtunkhwa (KPK), leaving multimillion-dollar investments in limbo due to their exclusion from the Indicative Generation Capacity Expansion Plan (IGCEP). Korean companies, including LSG Hydro Power Limited (LSG HPL) and Korea-South East Power Company (KOEN), have faced repeated hurdles despite making substantial progress. LSG HPL’s…

Rapid Solar Growth Shifts Rs200 Billion Burden to Non-Solar Consumers

November 23, 2024November 23, 2024 Admin

ISLAMABAD: A report by Arzachel, titled “The Distributed Divide – How Solar Expansion Affects Non-Adopting Consumers and Utility Economics,” reveals that non-solar consumers in Pakistan bore an additional Rs200 billion burden in FY 2023-24 due to the rapid adoption of solar energy. This surge has led to a Rs2 per kilowatt-hour (kWh) increase in tariffs for grid-dependent users. The report…

IMF Gas Reforms Trigger Conflict Between Ministries

November 23, 2024November 23, 2024 Admin

ISLAMABAD: A looming deadline to disconnect gas supplies to industrial power plants by January 31, 2025, has sparked a dispute between the Finance Ministry and the Petroleum Division, exposing cracks in the $7 billion International Monetary Fund (IMF) deal. The Petroleum Division accuses the Finance Ministry of accepting the IMF’s condition without adequately assessing its impact, warning of a potential…

NEPRA to Hold Public Hearing on Winter Relief Package

November 23, 2024November 23, 2024 Admin

ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has scheduled a public hearing on November 26 to consider the federal government’s proposed winter incentive package aimed at boosting electricity demand during the low-consumption months. The subsidy-neutral package, approved by the Economic Coordination Committee (ECC) on November 19, is set to be implemented from December 1, 2024, to February 28, 2025.…

COP29 achieves full operationalisation of Article 6 of Paris Agreement – Unlocks International Carbon Markets

November 23, 2024November 25, 2024 Admin

November 23, Baku: Today, the COP29 Presidency announced the end of the decade-long wait for the conclusion of negotiations on high integrity carbon markets under Article 6 of the Paris Agreement. This was one of the Presidency’s top priorities for the year and it drove Parties towards this milestone achievement through intensive dual-track technical and political negotiations. This strategy broke through…

Consortium withdraws bid to acquire majority stake in Engro Powergen Qadirpur

November 22, 2024November 22, 2024 Admin

A consortium comprising textile companies has withdrawn its public announcement of intention (PAI) to acquire a majority stake i.e. 68.89% of Engro Powergen Qadirpur Limited (EPQL), a subsidiary of Engro Energy Limited. The development was shared by Arif Habib Limited (AHL), manager to the offer, in a notice to the Pakistan Stock Exchange (PSX) on Friday. “This is with reference to…