Power Cement Limited (PCL) has signed Pakistan’s first-ever green captive power deal with Burj Clean Energy Modaraba (BCEM), marking a landmark step in the country’s clean energy transition.
The Burj Clean Energy Modaraba shared this development to the Pakistan Stock Exchange (PSX) through a notice on Monday.
The project will establish a 7.5 MW wind captive power plant, financed at PKR 1.5 billion by a consortium led by The Bank of Punjab (BOP), with participation from the National Bank of Pakistan (NBP) and Pak Kuwait Investment Company.
The Bank of Punjab acted as lead bank, adviser, arranger, and intercreditor agent, structuring the financing framework, while NBP participated as mandated lead adviser, arranger, and security agent. Pak Kuwait Investment Company joined as a Musharaka participant and equity provider, building on previous support for BCEM’s solar project.
The initiative reflects Power Cement’s commitment to decarbonizing its operations and enhancing energy efficiency, alongside BCEM’s expertise as Pakistan’s first clean energy investment fund/modaraba delivering scalable, Shariah-compliant solutions for industrial renewable energy projects.
Orient Energy Systems will execute the project using GOLDWIND turbines, enabling Power Cement to generate reliable on-site electricity, reduce reliance on fossil fuels, and support Pakistan’s broader clean energy targets.
Executives from all parties participated in the signing ceremony, highlighting shared commitment to sustainable industrial growth and private-sector clean energy partnerships.
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