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Pakistan grants power agency new role in market overhaul, caps legacy contracts
ISLAMABAD: Pakistan’s power regulator has approved the registration of the Central Power Purchasing Agency (CPPA-G) as a Special Purpose Agent (SPA), a key step in the country’s long-delayed electricity market reforms, but curtailed its future role by strictly limiting it to managing pre-existing contracts. The decision, detailed in a determination by the National Electric…
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K-Electric to build 200MW hybrid renewable energy project in Karachi
K-Electric Limited (KEL) has proposed a groundbreaking 200 MWp renewable hybrid power project. This initiative, combining wind and solar energy, is set to be developed at the Dhabeji Grid in Karachi. K-Electric proposed a competitive benchmark tariff of US Cents 5.1313/kWh, coupled with a request for USD indexation on the entire tariff to counter…
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KE expects 700MW of new electricity connections in 2 years
KARACHI, PAKISTAN: Growth in power demand in K-Electric (KE) service area is expected to remain above 5 per cent and KE expects over 700 MW of new electricity connections in next 2 years, with more than half in the industrial segment K-Electric’s mega-project Bin Qasim Power Station 3 (BQPS-III) will add 900 MW to…
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Shell and K-Electric inaugurate first electric vehicle charging station in Karachi
KARACHI: Shell Pakistan Limited (SPL) and K-Electric (KE) inaugurated the first ‘Rapid Charger’ station with a capacity of 50 kWh for Electric Vehicles at the Shell Askari-4 forecourt located at Rashid Minhas Road in Karachi. This initiative follows the signing of a Memorandum of Understanding (MoU) between both companies earlier this year; pursuant to which,…
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K-Electric’s installs entire power train of first unit of its RLNG based 900MW flagship power plant
KARACHI: K-Electric’s flagship 900 MW power plant, BQPS-III is progressing on fast track basis as the entire power train of first unit consisting of gas turbine, steam turbine, generator and heat recovery boiler have arrived and installed at the power utility’s Bin Qasim Power Complex. All relevant civil structural work is completed and associated…
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K-Electric would recover an additional Rs3.9 billion from consumers
KARACHI: K-Electric Limited would collect an additional Rs3.9 billion from consumers on account of fuel cost adjustment (FCA) for the months of June to December 2020. Recovery of these outstanding amount against electricity supply is subject to approval by the National Electric Power Regulatory Authority (NEPRA). K-Electric proposed to recover a total of Rs6.118…
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K-Electric committed to keeping industries powered up
KARACHI: Following the Federal Cabinet’s approval of moratorium on gas supply to industrial units for self-generation of electricity, K-Electric (KE) continues to remain fully committed to facilitating Karachi’s industrial customers in line with the Ministry of Energy’s (Power Division) direction to expedite fresh electricity connections and improve power supplies. KE is closely engaged with…
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K-Electric Board appoints Shan A. Ashary as new Chairman
KARACHI: Abraaj Group’s K-Electric Limited has announced the appointment of Shan A. Ashary as its new Chairman of the Board effective 7 September 2020. Mr. Ashary, who has been on the Board of Directors of the Company since 2005 and represents the KES Power stake in KE, is the longest-serving member of the board.…
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K-Electric closes PKR 25 bn Sukuk, the largest ever Sukuk issue in Pakistan’s private sector
KARACHI: K-Electric (KE) announced the successful closure of its PKR 25 billion Sukuk which is the largest Sukuk issue in the private sector of Pakistan. With oversubscription of IPO portion of Sukuk by almost 2.5 times, the power utility was able to close the Sukuk subscription on 3rd August 2020, more than two weeks…
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Construction of 900MW RLNG based power project to start next month
KARACHI, PAKISTAN: The construction of K-Electric’s $650 million 900MW RLNG-based Bin Qasim Power Station (BQPS)-III will commence in December. The project has received all required approvals and is part of KE’s planned initiatives resulting in investments of around US$3 billion across the power value chain over the next few years. The project was conceived…
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KE signs $50mn loan agreement with Standard Chartered supported by GuarantCo
KARACHI: K-Electric has signed US$ 50 million loan agreements with Standard Chartered which is supported by GuarantCo to undertake upgradation of power infrastructure including the installation of theft-resistant Aerial Bundled Cable (ABC) as well as smart grid solutions. The financing documents were signed at KE head office by Moonis Alvi, CEO and Rizwan Pesnani,…
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Abraaj Group’s K-Electric seeks 150 mmcfd RLNG for its power plants
KARACHI: Abraaj Group’s K-Electric Limited (KE) is considering the procurement of 150 mmcfd of re-gasified liquefied natural gas (RLNG), in the initial phase, to meet the fuel requirements of its two combined cycle gas turbine power plants at the Port Qasim complex. “We have initiated the bidding process, which will determine the preferred bidder…
