Author: Admin

Altern Energy Seeks Early Termination of PPA Amid Operational Losses

Admin
New-Project53

ISLAMABAD: Altern Energy Limited has formally requested the Central Power Purchasing Agency (CPPA) to *terminate its Power Purchase Agreement (PPA) early, citing *sustained operational losses due to lack of dispatch demand in recent years. In a statement to the *Pakistan Stock Exchange (PSX), the company’s *Board of Directors announced that it had also sought the termination of the Implementation Agreement (IA) signed with the *Government of Pakistan, as well as the *sovereign guarantee backing the contract. The board has referred the early termination proposal to the company’s shareholders for approval…

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Govt Limits Net Metering Contracts to 5 Years, Revises Buyback Rates

Admin
Net-Metering

ISLAMABAD: The government has *capped net metering contract terms at five years, with periodic **revisions to buyback rates, as per new policy guidelines issued to the *National Electric Power Regulatory Authority* (Nepra). Amid criticism over the *buyback rate cut from Rs 27 to Rs 10 per unit, the *Power Division has clarified the settlement mechanism: *imported and exported units will be billed separately, with exported units purchased at the **approved buyback rate, while imported units follow peak/off-peak tariffs. Consumers *cannot redeem or cash out credited excess units. Nepra has been…

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BYD Surpasses Tesla, Reports Record $100 Billion Revenue in 2024

Admin
Chinese-EV

BEIJING: Chinese electric vehicle (EV) giant BYD has overtaken *Tesla, posting a record *$107.2 billion in revenue** for 2024, as it accelerates its global expansion. The *Shenzhen-based automaker, a dominant force in **China’s EV market, is aggressively **expanding into Europe, unveiling a *new compact EV with super-fast charging to challenge established brands. This expansion comes as *Tesla faces headwinds in Europe, with declining sales amid *CEO Elon Musk’s political controversies. BYD’s 2024 revenue surged 29% year-on-year, exceeding *Bloomberg’s 766 billion yuan forecast, while **net profit hit a record 40.3 billion…

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Turkiye, Denmark Pledge Support for Pakistan’s Climate Fight

Admin
Climate-Change

ISLAMABAD: Federal Minister for Climate Change and Environmental Coordination, *Musadik Malik, held discussions with envoys from *Turkiye and Denmark on Monday to strengthen cooperation in climate resilience and carbon credit projects. Turkiye-Pakistan Climate Collaboration Ambassador of *Turkiye, Irfan Neziroglu, reaffirmed his country’s commitment to assisting **Pakistan in combating climate change, particularly through *carbon credit initiatives and *forestry management. Both sides agreed to explore *global and regional climate finance opportunities to attract sustainability investments. Minister Malik welcomed the initiative, emphasizing Pakistan’s urgent environmental challenges, including *deforestation, desertification, and water scarcity. The…

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Govt’s Revised IPP Deals to Cut Power Tariff by Rs0.50 Per Unit

Admin
Power-sector

ISLAMABAD: The government has projected a modest reduction of Rs0.50 per unit in electricity tariffs following revised agreements with seven *independent power producers (IPPs). Despite this, total savings over the lifespan of these power plants are estimated at **Rs920 billion, a fraction of the *Rs2.5-2.8 trillion in annual capacity charges paid to IPPs. During a National Electric Power Regulatory Authority (Nepra) hearing on Monday, officials confirmed that consumers would receive limited relief after agreements were revised with *Nishat Power, Nishat Chunian Power, Saif Power, Sapphire Electric, Engro Power, Narowal Energy,…

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