Solid measures afoot for fast track alternative energy development

ISLAMABAD (APP): The government is taking all possible measures towards fast tract development of alternative and renewable energy resources to diversify its energy mix and ensure energy security and sustainable development in the country. Official sources told APP here Monday that the AEDB has been mandated to act as a central agency for development and promotion of Alternative and Renewable Energy (ARE) technologies in the country and to facilitate the private sector investment in this area. They said the AEDB has undertaken a number of supportive measures in order to promote ARE technologies and to attract private sector investments.

, which include; identification of new corridors for wind and solar energy projects development. Resource assessment of these corridors is underway.

National Grid Code for wind power projects has been amended. Grid Integration Plan 2010 -2015 for wind power projects has been developed by AEDB to support National Transmission and Dispatch Company (NTDC).The local manufacturing of micro wind turbine has been started. Manufacturing for large wind turbines is also being encouraged.

M/s DESCON has setup a wind turbine tower manufacturing facility and has provided towers for the first wind project in the country.  M/s Three Gorges Corporation / CWE (China) has also established a tower manufacturing facility which will be upgraded to wind turbine assembling facility in future.

Similarly issues related to financing of projects have been resolved and now leading financing agencies like International Finance

Corporation (IFC), Asian Development Bank (ADB), Overseas Private Investment Corporation (OPIC), Economic Cooperation Organization (ECO), Trade Bank etc. are offering financing to wind power projects in Pakistan.  Thirty five wind power IPPs holding LOIs issued by AEDB are at various stages of project development.

In Solar Energy, 24 LOIs for cumulative capacity of approximately

792.99 MW On-Grid Solar PV power plants have been issued. Four companies have submitted the feasibility studies of their projects and one feasibility study is approved by AEDB. Other sponsors are at the stage of preparation of feasibility studies

Solar Village Electrification Programme was initiated under PM’s directive. 3000 Solar Home Systems have been installed in 49 villages of district Tharparkar, Sindh. Another 51 villages in Sindh and 300 villages in Baluchistan have been approved for electrification using solar energy and will be implemented shortly.

AEDB in light of SRO 575(1)12006 issued duty exemption certificates for a large number of solar panels / solar modules to private sector companies for installation / generation of almost 64.57MW of energy in the country. These solar panels / solar modules are deployed all over the country.

AEDB issued tax exemption certificate for import of almost 16715 units of Solar Water Heaters in the country. These heaters are deployed all over the country especially in Baluchistan, Gilgit-Baltistan, Khyber Pakhtunkhwa and Northern Punjab. AEDB also issued tax exemption certificate for import of about 1429 units of Solar Water Pumping System in the country.

TUV Austria conducts IRCA

Accredited Course

Lahore (STAFF REPORTER): The TUV Austria Bureau of Inspection & Certification held a five-day training on ‘IRCA Accredited ISO 9001:2008 Lead Auditor Course’ in Lahore, where their experts in the field of Quality Management System gave extensive and informative lectures on the methods of conducting quality inspections and the benefits of doing so. The sessions were not only interactive but also informative as participants were prone to share their professional experience with the house. The participants were from renowned organization including Descon Engineering, Neat Foods etc.   

The association of organizations and individuals with ISO 9001:2008 Standard, improve their reputation as product/service quality conscious, also it reduces the internal inefficiencies which in turn improves the return on investments (ROI) of the company. Due to the elimination of process errors and inefficiency, the internal effectiveness of the organization improves and results in enhancing the customer satisfaction level. The TUV Austria has a reputation of providing IRCA Accredited Trainings, Management System Certifications, Third Party Inspection Services, Risk Based Inspection, Process Safety, Project Management, Construction Supervision & QA/QC services to a wide range of industries globally for over a century. Today the people of Pakistan have also realized the importance of clean environment, health, safety and most of all the quality of products that they consume in their daily lives. TUV Austria is making a breakthrough in creating awareness especially in the developing countries like Pakistan.

Spel offers 19.35 million

shares to public

LAHORE (STAFF REPORTER): Synthetic Products Enterprises Limited (SPEL) in collaboration with its lead managers Arif Habib Limited, arranged an introductory session at LSE for TREC Holders and Investors of Exchange regarding its upcoming IPO. Mr. Almas Hyder, Chairman SPEL briefed the audience about the company and IPO. SPEL is a leading manufacturer of Technology Intensive Engineering Plastic and Packaging Products in Pakistan. They possess a very exciting and successful history of over 36 years of delivering quality products and outstanding services to the industry. SPEL has maintained tremendous Growth Rate over last several years.

19.35 million Shares are being offered to the public   within an approved band of Rs23/- and Rs.39.1, which is 25% of the post IPO paid up capital of the company. Book building was successfully held on Monday 8th December 2014 resulting in a strike price of PKR. 30, while the IPO of SPEL Limited is scheduled on January 6th and 7th 2015.

The Presentation was attended by many leading investors & brokers of LSE. Mr. Aftab Chaudhry Managing Director LSE, Mr. Zia Hyder Naqi, CEO SPEL, Mr. Munir Saleem and Mr. Shahid Ali Habib, CEO Arif Habib Ltd. were also present during the session.

HBL signs MoU

Lahore (staff reporter): HBL has entered into a joint alliance with Burger King® in Pakistan. Under this arrangement HBL Debit & Credit Card customers would get 15% discount at Burger King restaurants across the country. This joint alliance will add great value to the customers of both organizations and displays continuous commitment towards enhancing the customer’s experience.  Speaking at the event HBL’s Mr. Faiq Sadiq (Head – Payment Services) said “Burger King® is a global brand and a leading fast food chain. HBL’s strategic alliance with BK® Pakistan will enable HBL consumers to experience Burger King’s signature flame grilled flavor at decent discounts. “

Oil prices rise on violence in Libya

SINGAPORE (AFP): Oil prices rose in Asia Monday as fresh violence in Libya stoked concerns about possible supply disruptions, analysts said.  West Texas Intermediate for Feb delivery rose 46 cents to $55.19 while Brent crude for Feb gained 35 cents to $59.80 in late-afternoon trade. A analyst said investors are showing concern as the "armed conflict in Libya is affecting crude oil flows". Forces loyal to Libya's internationally recognised govt on Sunday carried out air strikes against Islamist militia following attacks on the country's crucial Al-Sidra oil export terminal.  The Fajr Libya (Libya Dawn) group has been been trying to take Al-Sidra and the nearby Ras Lanuf terminal since Thursday when it killed at least 22 soldiers in a surprise attack by speedboat.

Seven oil storage tanks at Al-Sidra were set on fire as a result of the fighting.

On Sunday firefighters managed to extinguish four of the fires, an oil official said.

Since fresh clashes first erupted around the export terminals on December 13, Libya's oil production has dropped to fewer than 350,000 barrels per day compared with 800,000 previously, industry experts say.

More than three years after dictator Moamer Kadhafi was toppled, Libya is awash with weapons and powerful militias, and has rival parliaments and governments.

Ang said oil prices will "continue to trade range-bound" with no major fluctuations expected ahead of the New Year holiday.

With few other leads in the market this week, US crude stockpiles data to be released Wednesday will be closely watched, he added.