Pakistan/Energy
In a landmark development for Pakistan’s renewable energy sector, Burj Clean Energy Modaraba (BCEM) has signed a PKR 1.5 billion project finance facility for the country’s first-ever green captive power transaction with Power Cement Limited (PCL). The agreement marks a major step forward in advancing sustainable industrial growth and reducing carbon emissions.
The project involves the establishment of a 7.5 MW wind captive power plant, to be developed by BCEM for PCL under a lease arrangement. Financing for the project is led by The Bank of Punjab (BOP), with participation from the National Bank of Pakistan (NBP) and Pak Kuwait Investment Company.
BOP played a pivotal role as Lead Bank, Adviser, Arranger, Intercreditor Agent, and architect of the financing structure. NBP contributed as Mandated Lead Adviser and Arranger, while also serving as Security Agent. Pak Kuwait Investment Company joined as a Musharaka Participant, reinforcing its earlier support to BCEM’s solar initiatives and extending equity investment into the fund.
This collaboration highlights the strong institutional backing for Pakistan’s transition toward industrial decarbonization and clean energy adoption.
“This project is a pioneering milestone in Pakistan’s clean energy journey. It reflects the shared vision of Burj Clean Energy Modaraba and Power Cement Limited to adopt innovative, Shariah-compliant solutions for sustainable industrial power needs,” said [insert name/title if available].
Orient Energy Systems has been appointed to execute the project, which will utilize GOLDWIND wind turbine technology. The initiative is expected to significantly cut PCL’s reliance on fossil fuels by generating reliable renewable electricity on-site.
As Pakistan’s first clean energy investment fund/modaraba, BCEM is uniquely positioned to deliver scalable, Shariah-compliant renewable energy solutions. The partnership with PCL sets a precedent for private-sector collaboration in clean energy financing, development, and deployment.
The signing ceremony, attended by senior executives of all parties, reaffirmed their commitment to building a greener, more resilient energy future for Pakistan. – ER News Desk
