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Hopewind Powers China’s largest standalone environmental desert control PV project

Admin
Hopewind-new

Hopewind has significantly contributed to the construction of China’s largest standalone environmental desert control photovoltaic (PV) project. Situated in the Kubuqi Desert, Mengxi Base, this 2GW project is groundbreaking in its scale and impact. Project Significance The Kubuqi Desert project is crucial for improving the ecological environment of the “Jiziwan” basin of the Yellow River and the Kubuqi Desert. It…

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Pakistan and China Sign 32 MoUs to Boost Trade and Investment

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Pak-china

ISLAMABAD: In a significant move to enhance bilateral trade and investment, Pakistan and China have signed 32 memorandums of understanding (MoUs). The agreements were formalized during Prime Minister Shehbaz Sharif’s visit to China, where he led a delegation of 100 businessmen aiming to explore new avenues for economic collaboration. An official announcement from the Commerce Ministry on Wednesday highlighted that…

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Power Consumers to Face 14% Markup on Installment Payments

Admin
Nepra-Price

ISLAMABAD: Consumers grappling with the highest-ever electricity tariffs and seeking installment plans for their hefty bills due to financial hardships are now required to pay a 14% markup on delayed payments. Additionally, they will be disqualified from availing subsequent part-payment facilities for a year. This comes on top of a 10% late payment surcharge (LPS) for bills not paid within…

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PM Shehbaz Pledges Full Support and Security for Chinese Investors During China Visit

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Shehbaz-Sharif

ISLAMABAD: Prime Minister Shehbaz Sharif has assured Chinese investors of comprehensive facilitation and stringent security measures for their projects in Pakistan. Addressing the Pakistan-China Business Forum in Shenzhen, PM Shehbaz emphasized the immense potential for bilateral trade and investment, particularly in sectors such as IT, agriculture, mining, steel, textiles, and renewable energy. Highlighting the successful Chinese model of economic transformation,…

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COP29 Joins Forces with IRENA to Monitor UAE Consensus Energy Goals Set at COP28

Admin
New-COP29

Azerbaijan and IRENA Partner to Track Progress Towards Renewable Energy and Efficiency Targets by 2030 Abu Dhabi, United Arab Emirates / Baku, Azerbaijan, 5 June 2024 – The incoming COP29 Presidency, represented by Azerbaijan, has announced a strategic partnership with the International Renewable Energy Agency (IRENA) to monitor the progress towards tripling renewable energy capacity and doubling energy efficiency by…

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AGP Office Distances Itself from Strategy on SHPL Award

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New-AGP

AGP Office Declines Involvement in Strategy for SHPL Award, Leaves Decision to CPPA-G and Power Division ISLAMABAD: The Office of the Attorney General for Pakistan (AGP) has distanced itself from the strategy to handle the award of millions of dollars in favor of Star Hydro Power Limited (SHPL). This strategy was suggested by the foreign counsel engaged by the Central…

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PPIB Urges SBP to Release $758 Million for IPP Payments

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CPEC-likely

ISLAMABAD: The Private Power & Infrastructure Board (PPIB) has called on the State Bank of Pakistan (SBP) to allocate $758 million for foreign payments of power projects, many of which are under the China-Pakistan Economic Corridor (CPEC) framework. Managing Director of PPIB, Shah Jahan Mirza, in a letter to SBP Governor Jameel Ahmed, highlighted concerns from Independent Power Producers (IPPs)…

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Leading the Way in Renewable Energy: Mondelez Pakistan 2.2 MW Partnership with Shams Power

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Mondelez-Pakistan

Karachi, 4th June 2024 – Mondelez Pakistan has partnered with Shams Power to solarize its confectionary and powdered beverages plants and to take the installed capacity to around 2.2 MW of Solar on both sites. This initiative aims to enhance sustainability and reduce carbon emissions. Shams Power will install the equipment, manage the operation and maintenance of the solar systems…

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Petroleum Levy Collection Surpasses Target, Hits Rs907 Billion

Admin
Petroleum-prices

KARACHI: The government has exceeded its annual petroleum development levy (PDL) collection target, amassing Rs907 billion in the first 11 months of the current fiscal year, against a target of Rs869 billion. This surge comes as demand for petroleum products peaked to a nine-month high of 1.4 million tons in May 2024 due to a price reduction, bringing total consumption…

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