Burj Clean Energy inks deal for 7.5 MW wind project
Burj Clean Energy Modaraba (BCEM), the first listed Islamic green energy fund on the Pakistan Stock Exchange (PSX), said on Wednesday that it entered into a lease agreement with Pakistan Cables Limited. The agreement was structured on a Build, Own, Operate, and Transfer (BOOT) model, for the development, installation, ownership and operation of a 7.5 MW wind power project at the company’s…
Burj Clean Energy Modaraba, Pakistan's first listed Islamic green energy fund on the PSX, has signed a lease agreement with Pakistan Cables Limited for a 7.5 MW wind power project. The deal, structured under a Build, Own, Operate, and Transfer (BOOT) model, will see Burj take on the responsibilities of developing, owning, and operating the wind project at its manufacturing facility in Nooriabad, Sindh.
Habib Bank Limited has provided a project financing facility to support the project. The 20-year BOOT agreement signifies Burj's commitment to promoting clean and renewable energy solutions in Pakistan, contributing to the transition towards sustainable power generation. The wind project is anticipated to reduce reliance on fossil fuels, enhance energy efficiency, and align with the long-term sustainability goals of both Burj Clean Energy Modaraba and Pakistan Cables Limited.
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