⚡ Igniting Pakistan’s Green Revolution! 🌿
Burj Clean Energy Modaraba (BCEM) made history with Pakistan’s first green captive power transaction operating under a lease arrangement. It is a 7.5 MW wind project for Power Cement Limited (PCL). This trailblazing venture is financed by The Bank of Punjab as the lead bank along with National Bank of Pakistan and Pakistan Kuwait Investment Company (Private) Limited Company to the tune of PKR 1.5 billion. It marks multiple firsts: (a) Pakistan’s first captive Ijarah wind project, (b) the first largest single wind turbine, and (c) the first sale-and-leaseback Islamic finance for a power project. Orient Energy Systems Pvt. Ltd. has been appointed to deliver this project with a Goldwind wind turbine. It is designed to reduce ~12,000 tons of CO2 yearly, which is the equivalent of 200,000 trees!
BCEM’s, as Pakistan’s first clean energy Modaraba, is poised to move forward with another round of equity funding that will allow the modaraba to scale up the commercial and industrial (C&I) business and expand into the clean energy value chain by making EVs, solar, and battery storage affordable through digital retail financing.
Explore our vision at https://burjmodaraba.com or enquiry@burjmodaraba.com Join the green wave!
#ShariahCompliant #RenewableEnergy #GreenFinance #PakistanSustainability