Pakistan Cables signs BOO agreement for 7.5 MW wind power project

Mettis Global reported that Pakistan Cables Limited has signed a Build, Own and Operate deal with Burj Clean Energy Modaraba, covering a wind power plant of 7.5 MW. The plant will rise at the firm's production site in Nooriabad, Sindh, and the Modaraba will develop, own and run it. Under this arrangement, the wind project will supply renewable electricity to Pakistan Cables.

The company informed the Pakistan Stock Exchange about the deal in a filing made under clause 5.6.1(a) of the PSX rulebook and Section 96 of the Securities Act, 2015. It described the transaction as part of its continuing push toward cleaner, renewable power, lower dependence on fossil fuel-based energy and reduced energy costs. Habib Bank Limited (HBL) has also arranged financing for the venture through a facility granted to the Modaraba.