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Express Tribune
6 days ago
- Business
- Express Tribune
PAC seeks remedy for post-200 unit billing
Junaid Akbar was elected unopposed as Chairman of the Public Accounts Committee in January 2025. Photo: Express/ File The Public Accounts Committee (PAC) on Tuesday took notice of the electricity tariff slab hike that penalises consumers for exceeding 200 units, directing the Power Division to propose a solution for inflated bills that persist for six months even after a single unit crosses the limit. The committee meeting, chaired by MNA Junaid Akbar Khan, reviewed audit paras related to the Ministry of Energy. Expressing concern, the chair demanded an explanation for the prolonged penalty on consumers who exceed the 200-unit threshold once. Officials briefed the committee on the status of Independent Power Producers (IPPs), revealing a sharp rise in installed capacity over the years. Committee member Shazia Marri questioned why provinces like Sindh and Khyber-Pakhtunkhwa continue to endure up to 16 hours of load-shedding despite a surplus in electricity generation. The power secretary informed the committee that 58% of electricity users fall under the 200-unit slab, with subsidised rates now benefiting 18 million consumersup from 11 million previously. He acknowledged the issue of high bills lasting months for consumers who breach the limit once. "To increase the slab limit, a higher subsidy will be needed," he said, adding that the government aims to reform the system by 2027, shifting to direct subsidies using BISP data. The Energy Ministry also noted that the installed capacity of IPPs rose from 9,765MW in 2015 to 25,642MW in 2024, with annual capacity payments jumping from Rs141 billion to Rs1.4 trillion. Committee member Syed Naveed Qamar disputed the Power Division's claim that coal was the main driver of high electricity costs. Meanwhile, Junaid Akbar raised doubts over reports of 200% electricity generation from bagasse, calling the numbers unrealistic.
IOL News
16-07-2025
- Business
- IOL News
AEF outcomes: Powering South Africa's energy transition
South Africa has the potential to lead Africa's energy transition, says the author. Image: Freepik Last month, Cape Town hosted the Africa Energy Forum (AEF) for the first time in its 27-year history – a significant milestone for South Africa's growing role in shaping the continent's energy future. As the global investment meeting for Africa's power, energy, infrastructure and industrial sectors, AEF brought together heads of state, ministers, policymakers, utilities, development finance institutions (DFIs) and private sector stakeholders. While the forum celebrated just how rapidly South Africa's energy market is maturing, it also highlighted the critical work that is still required to unlock its full potential. The industry's maturity is reflected in the growing number of trading licences being issued, as the sector shifts towards a competitive wholesale trading environment. South Africa's public procurement programme continues to serve as a blueprint for success, underpinned by a transparent and consistent auction process. While technology advancements enable more competitive pricing and improved system reliability, new risk management mechanisms – such as insurance products and credit guarantee vehicles – are enhancing project viability and attracting larger funding volumes. Further progress, however, will depend on the availability of adaptable financial structures. There is a growing need for instruments that can support projects with multiple offtakers or staggered power purchase agreement tenors, while maintaining appropriate risk allocation. DFIs remain essential in this space, not only by providing security packages for senior lenders, but by enabling project preparation in the early stages. Despite growing investor confidence, structural challenges persist. Grid infrastructure remains a core constraint for Independent Power Producers (IPPs). Until this is addressed, it will continue to limit how quickly new projects can be delivered. In the near term, implementing a curtailment framework would allow developers to proceed with projects in grid-constrained areas, with output managed while the necessary transmission infrastructure is rolled out. Permit delays are another concern. Although Environmental Authorisations are guided by a national legislative process, local capacity constraints can result in inconsistent turnaround times, creating significant delays in some jurisdictions. As demand increases, the availability of experienced construction partners will be a key factor in the sector's ability to execute projects at scale. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ Nevertheless, the outlook remains positive for South Africa. In the next five years, we'd like to see a vibrant market with a day-ahead trading environment and several IPPs, including Mulilo, managing portfolios of 5 GW or more. We also hope to see an increased number of renewable energy professionals and expanded human resource capacity to support the sector. Continued collaboration between government and the private sector, through platforms such as the Energy Council of South Africa, will be central to achieving this. AEF 2025 confirmed what many in the sector already knew: South Africa has the potential to lead Africa's energy transition. With the right partnerships, policies and investment, the sector can go beyond energy security at home; it can deliver scalable, bankable solutions for the continent. Stuart MacWilliam, Chief Development Officer at Mulilo Image: Supplied Stuart MacWilliam, Chief Development Officer at Mulilo. *** The views expressed here do not necessarily represent those of Independent Media or IOL. BUSINESS REPORT
The Hindu
11-07-2025
- Business
- The Hindu
INOX Clean Energy targets ₹6,000-crore IPO, files paper
INOX Clean Energy has confidentially filed draft papers with markets regulator Sebi to raise ₹6,000 crore through an Initial Public Offering (IPO), according to industry sources familiar with the development. This could potentially become the largest Indian IPO in the clean energy and renewables sector. With a proposed equity dilution of over 10%, the company is targeting a market capitalisation of around ₹50,000 crore, they added. In a public announcement on Friday (July 11, 2025), INOX Clean Energy, a part of the USD 12 billion INOXGFL Group, stated that it has submitted 'the pre-filed draft red herring prospectus with Sebi and the stock exchanges, in relation to the proposed initial public offering of its equity shares on the main board of the stock exchanges.' Industry sources familiar with the development said that a major portion of the public offer will comprise a fresh issue, with the proceeds earmarked for setting up new facilities in solar and Independent Power Producers (IPPs). The proposed IPO surpasses the filings made by Juniper Green (₹3,000 crore) in June 2025 and Waaree Energies (₹4,300 crore) in October 2024. The company has already demonstrated strong financial flexibility, highlighted by a recent equity raise of around ₹700 crore. The book running lead managers for the proposed IPO include JM Financial, Motilal Oswal, Nuvama, IIFL Securities, and ICICI Securities. According to a report by CareEdge Ratings, INOX Clean Energy is expected to incur capital expenditure of ₹6,500 crore to complete its under-construction renewable energy and manufacturing capacities. This expenditure is planned to be funded through a mix of project-level debt, cash accruals from underlying projects, and equity contributions from both investors and promoters. While funding for the under-construction renewable energy capacity is in place, the company will require additional equity capital to establish its planned manufacturing units. INOX Clean Energy is engaged in the business of developing and operating renewable energy projects as well as manufacturing solar cells and modules through its subsidiaries INOX Neo Energies and INOX Solar. Currently, INOX Clean Energy has a total operational capacity of 157 MW, which includes 107 MW of wind and 50 MW of solar power. Additionally, 400 MW is under construction, comprising 350 MW of hybrid and 50 MW of solar projects. The company also has a project pipeline of over 2.2 GW, according to a CareEdge report from June 2025.
Time of India
11-07-2025
- Business
- Time of India
INOX Clean Energy eyes ₹6,000 crore IPO, files confidential DRHP
INOX Clean Energy has confidentially filed draft papers with markets regulator Sebi to raise ₹6,000 crore through an Initial Public Offering (IPO), according to industry sources familiar with the development. This could potentially become the largest Indian IPO in the clean energy and renewables sector. With a proposed equity dilution of over 10 per cent, the company is targeting a market capitalisation of around ₹50,000 crore, they added. In a public announcement on Friday, INOX Clean Energy, a part of the USD 12 billion INOXGFL Group , stated that it has submitted "the pre-filed draft red herring prospectus with Sebi and the stock exchanges, in relation to the proposed initial public offering of its equity shares on the main board of the stock exchanges." Industry sources familiar with the development said that a major portion of the public offer will comprise a fresh issue, with the proceeds earmarked for setting up new facilities in solar and Independent Power Producers (IPPs). The proposed IPO surpasses the filings made by Juniper Green (₹3,000 crore) in June 2025 and Waaree Energies (₹4,300 crore) in October 2024. The company has already demonstrated strong financial flexibility, highlighted by a recent equity raise of around ₹700 crore. The book running lead managers for the proposed IPO include JM Financial , Motilal Oswal, Nuvama, IIFL Securities , and ICICI Securities. According to a report by CareEdge Ratings, INOX Clean Energy is expected to incur capital expenditure of ₹6,500 crore to complete its under-construction renewable energy and manufacturing capacities. This expenditure is planned to be funded through a mix of project-level debt, cash accruals from underlying projects, and equity contributions from both investors and promoters. While funding for the under-construction renewable energy capacity is in place, the company will require additional equity capital to establish its planned manufacturing units. INOX Clean Energy is engaged in the business of developing and operating renewable energy projects as well as manufacturing solar cells and modules through its subsidiaries INOX Neo Energies and INOX Solar. Currently, INOX Clean Energy has a total operational capacity of 157 MW, which includes 107 MW of wind and 50 MW of solar power. Additionally, 400 MW is under construction, comprising 350 MW of hybrid and 50 MW of solar projects. The company also has a project pipeline of over 2.2 GW, according to a CareEdge report from June 2025.
Business Recorder
11-07-2025
- Business
- Business Recorder
Federal policies hinder development of energy sector, says Sindh CM
Sindh Chief Minister Murad Ali Shah has emphasised the province's potential as Pakistan's 'energy basket' due to its vast resources, including coal, gas, wind, and solar energy, however, he also asserted that federal policies have created challenges that hinder the development of the energy sector in Sindh. Addressing Sindh Energy Diversity Path to Prosperity Conference organised by the Energy Update and Sindh Energy Department on Friday in Karachi, CM Murad urged the gathering of stakeholders, experts and policymakers to discuss the province's vast energy resources and the urgent need for sustainable energy solutions. The event highlighted the province's commitment to harnessing its rich mix of conventional and renewable energy sources to ensure energy security, sustainability, and affordability for all citizens. Murad emphasised the progress made in utilising Thar coal, noting that over the past six years, 30 million tonnes of coal has been supplied to Independent Power Producers (IPPs), generating 31 gigawatts of electricity, serving three million homes. He announced the construction of a 105-kilometre railway line to connect Thar coal to global markets, calling it a game-changing project. He also recounted historical challenges, including investor reluctance after the 1996 government change and federal opposition to Sindh's solar and wind power projects. The chief minister emphasised that Sindh is uniquely positioned with an abundance of natural gas and coal reserves, notably the Thar coal, which has the potential to meet the country's electricity needs for decades. The province is also leading the way in renewable energy initiatives, including the operational wind corridor and several solar energy projects aimed at reducing reliance on fossil fuels and promoting clean energy. The establishment of the Sindh Transmission and Dispatch Company (STDC) and the Sindh Electric Power Regulatory Authority (Sepra) were also announced as key steps in enhancing energy delivery and regulatory autonomy. The chief minister reaffirmed the government's vision of collaborating with the public and private sectors to develop robust energy policies, promoting investments in hybrid solutions, and ensuring that every household in Sindh has access to reliable and affordable electricity. This conference marks a significant milestone in Sindh's journey towards energy independence and sustainability, setting the stage for future developments in the region's energy landscape. The chief minister highlighted the success of the Nooriabad project, which supplies 100 megawatts of electricity to Karachi. 'Earlier, we wanted to supply 100 MW to Hesco but it turned down the offer, saying they have an abundance of electricity. 'Sindh has established its own transmission company to overcome such hurdles,' he said. PR awards contract of Thar coal mines-Port Qasim rail line He emphasised Sindh's leadership in wind and solar energy, with electricity from Thar and wind projects integrated into the national grid reaching as far as Punjab. The provincial budget allocates Rs2.5 billion for solar energy and the Sindh government pays electricity bills for 200 units for deserving Thar residents. Energy Minister Syed Nasir Hussain Shah also spoke, affirming Sindh's dedicated efforts to produce affordable and efficient green energy. He mentioned ongoing projects, including two solar parks for Karachi, a solar project in Manjhand for the Hyderabad region, and plans for solar parks in Sukkur and Larkana. Nasir Shah added that large industries are gradually shifting to green energy, and free solar systems are being provided to people across the province. Overall, the address underscored Sindh's rich energy potential and proactive provincial initiatives, while sharply criticising federal policies that hinder progress and calling for greater cooperation and support from the federal government to fully realise Pakistan's energy needs.
