InfraZamin Pakistan Limited, an initiative by the Private Infrastructure Development Group (PIDG), has been assigned the highest credit ratings possible by the Pakistan Credit Rating Agency (PACRA), with a long-term rating of AAA (Triple A) and short-term rating of A1+ (A One Plus). The strong positive rating by PACRA comes as InfraZamin is gearing up to launch business operations and lends further support for InfraZamin’s plans to develop the infrastructure financing market in Pakistan by offering credit enhancement solutions.
InfraCo Asia and AEPL, with support from developer team Equicap Asia, have brought into operations a 248kW distributed solar facility in Faisalabad, Pakistan under the joint venture Prism Energy. The commercial and industrial (C&I) solar project is the first of many for the Prism team, with several larger-scale projects (of up to 5MW) in the pipeline. Through Prism Energy, InfraCo Asia and AEPL aim to demonstrate the commercial viability of developing and implementing high-quality, commercial and industrial (C&I) solar power systems at scale in Pakistan.
InfraCo Asia and Electricité de France (EDF), through InfraCo Asia’s contracted developer team ICM and local partner SolaRiseSys, successfully delivered the Kha Laing Microgrid project into commercial operations in January 2021 – providing approximately 1,200 people in the rural Kha Laing village of Minhla Township with first-time, 24/7 access to electricity. Following the completion of the pilot, the project’s joint venture partners are exploring plans to replicate the project’s success across other sites in rural Myanmar.
Ms Rahman, whose appointment as InfraZamin CEO will take effect on 1 January 2021, brings with her over twenty years of experience in investment banking, research and asset management. Prior to her appointment as InfraZamin Pakistan’s CEO, Ms Rahman served as the Chief Executive of Alfalah GHP Investment Management where, under her leadership, Alfalah Investments has grown to be one of the largest asset management companies in Pakistan.
Net1, via subsidiary Mobile Internet Holdings, aims to provide connectivity to more than 300,000 households over the next five years. New or improved access to broadband connections is expected to bridge the digital divide in work and education opportunities between rural and urban populations in Indonesia, as well as improve access to the latest healthcare advice pertaining to the pandemic.