K-Electric Limited
Status: Approved investmentWhy disclosure?
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Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
K-Electric Ltd. (KE) is the privatized power utility that has been servicing residential, commercial, industrial and agricultural clients in Pakistan’s largest city Karachi and its surroundings for over 100 years. The company has around 3 million customers and supplies electricity to over 20 million people. K-Electric is the only vertically integrated power utility in Pakistan, active in generation, transmission, and distribution, the company generated 19,487GWh in 2021 and operates a transmission and distribution network spanning across over 6600 square kilometers.
What is our funding objective?
The objective of this project is to undertake a strategic study to determine the implications and limits of integrating intermittent renewable resources onto KE’s system.
Why do we fund this investment?
For K-Electric and FMO this is an important project as it aims to define the green strategy and asses the climate risks of K-Electric in Pakistan, supporting them on pursuing the ambition of investing more in renewable energy.
More investments
| Date | Total FMO financing |
|---|---|
| 4/1/2022 | USD 65.35 MLN |
- Region
- Asia
- Country
- Pakistan
- Sector
- Energy
- Publication date
- 1/11/2023
- Effective date
- 12/16/2022
- Total FMO financing
- EUR 0.14 MLN
- Funding
- FMO NV
-
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - A