HBL, Pakistan Cables, BCEM and Orient Energy Systems mark successful signing of 7.5MW wind power project
KARACHI: HBL, in partnership with Burj Clean Energy Modaraba (‘BCEM’) and Orient Energy Systems, has successfully completed the financing and signing of agreements for a 7.5 MW wind power project to supply green energy to Pakistan Cables’ factory in Nooriabad, Sindh. The Project represents a significant step towards accelerating renewable energy adoption within Pakistan’s industrial sector while…
Karachi: Habib Bank Limited (HBL) has successfully completed financing and signing agreements for a 7.5 MW wind power project in partnership with Burj Clean Energy Modaraba (BCEM) and Orient Energy Systems (OES). The project is set to supply green energy to Pakistan Cables' factory in Nooriabad, Sindh. BCEM will act as the lessor, developing, owning, and operating the project, while Pakistan Cables will be the lessee under an Ijarah agreement.
OES, an EPC contractor, will utilize GOLDWIND turbine technology and has secured project financing from HBL. This collaboration marks a significant step towards renewable energy adoption in Pakistan's industrial sector, reducing dependency on non-renewable sources and supporting Pakistan Cables' climate action goals. With its existing solar energy integration, Pakistan Cables aims to become the most renewable energy-focused company in the cable industry in Pakistan.
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