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Global Renewable Energy Installations Hit Record High in 2024, Led by China

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Wind-power

DUBAI: The world installed a record-breaking amount of renewable energy capacity in 2024, with China leading the charge, according to a report released by the International Renewable Energy Agency (IRENA) on Wednesday. Global renewable energy capacity—spanning solar, wind, hydroelectric, and geothermal sources—grew by 15.1%, reaching nearly 4.5 terawatts. A staggering 585 gigawatts of renewable power was added to grids worldwide,…

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NEPRA Seeks Power Generation Plan Amid Forecasted Hydel Reduction

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New-NEPRA

ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has directed the Power Division to submit a comprehensive power generation plan in light of a projected sharp decline in hydel power output, following warnings from the National Power Control Centre (NPCC) of an unfavorable summer ahead. The directive was issued during a public hearing on the Fuel Charges Adjustment (FCA) for…

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Revised IPP Contracts to Save Rs3.5 Trillion Over 3-20 Years: Power Division

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New-Project53

ISLAMABAD: The Power Division has projected savings of Rs 3.498 trillion from the renegotiation and termination of contracts with 29 Independent Power Producers (IPPs) and Government Power Plants (GPPs) over their remaining tenures, which range from 3 to 20 years. During a meeting of the Senate Standing Committee on Power, chaired by Senator Mohsin Aziz, officials disclosed that six IPP…

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Pakistan Faces Unprecedented Water Shortage as Kharif Season Begins

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Indus-River

ISLAMABAD: As the Kharif cropping season approaches, Pakistan is grappling with an unprecedented water crisis, with irrigation experts warning of severe consequences for agricultural output. Officials report that dam reservoirs are nearly empty, river flows have dropped significantly, and reduced snowfall in mountainous regions offers little hope for replenishment. Given these alarming conditions, the Indus River System Authority (IRSA) has…

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Pakistan, IMF Agree on Carbon Levy, Tariff Reductions in New $8.3bn Deal

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New-IMF

ISLAMABAD: Pakistan and the International Monetary Fund (IMF) have reached an agreement on a new 28-month Resilience and Sustainability Facility (RSF) worth $1.3 billion, bringing the total IMF support for the country to $8.3 billion under the Extended Fund Facility (EFF). The agreement, announced Wednesday, includes key economic reforms such as a new carbon levy, lower electricity tariffs, and reduced…

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Govt to Reevaluate Net Metering Policy After Strong Backlash

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solar-electricity

ISLAMABAD: In response to widespread criticism, the government has decided to expand consultations on the Solar Net Metering Regulations approved by the Economic Coordination Committee (ECC) and re-submit recommendations to the federal cabinet after incorporating feedback from all stakeholders. The decision was made during a *federal cabinet meeting on Wednesday, following intense backlash over the government’s March 13 move to…

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Huawei and AE Power Forge Partnership to Introduce LUNA2000-107kwh/167kwh/215kwh Commercial Battery Energy Storage System in Pakistan

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New-HUAWEI

Lahore, Pakistan – March 24, 2025 – In a landmark move towards advancing sustainable energy solutions in Pakistan, Huawei and AE Power have officially entered into a strategic partnership to bring the LUNA2000- 107kwh/167kwh/215kwh Commercial Battery Energy Storage System (BESS) to the local market. The agreement was formalized at a signing ceremony attended by Mr. Rana Abbas, CEO of AE…

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First-Ever EU-Pakistan Business Forum Set for May 14 in Islamabad

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First-Ever

ISLAMABAD: The European Union (EU) delegation to Pakistan has announced the inaugural High-Level EU-Pakistan Business Forum, scheduled for May 14-15, 2025, in Islamabad. This milestone event, jointly supported by the EU, its Member States, and the Government of Pakistan, aims to foster business partnerships, unlock new opportunities, and strengthen economic ties between the two regions. Prime Minister Shehbaz Sharif will…

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Govt Moves Forward with Discos Privatization, FAs Outline Key Reforms

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Power-sector

ISLAMABAD: Financial Advisors (FAs) have briefed the Power Division and Privatization Commission on private sector participation in three power Distribution Companies (Discos), highlighting necessary regulatory and financial reforms, sources told Business Recorder. The government aims to privatize Islamabad Electric Supply Company (IESCO), Gujranwala Electric Power Company (GEPCO), and Faisalabad Electric Supply Company (FESCO). The discussions focused on regulatory changes, balance…

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Govt Inaugurates First 120KW EV Charging Station in Islamabad, Slashes Charging Rates

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Electric-Vehicle

ISLAMABAD: Energy Minister Awais Leghari on Tuesday inaugurated Pakistan’s first 120KW fast-charging station for electric vehicles (EVs), developed by GoGreen Avenue, marking a significant step towards sustainable transportation. Speaking at the inauguration ceremony, Leghari emphasized the government’s commitment to clean energy and carbon reduction, stating that such initiatives are crucial for transforming the country’s energy and transportation landscape. As part…

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