Pakistan’s first Shariah-compliant green captive wind deal just won Renewable Energy Deal of the Year – Wind at The Asset Triple A Sustainable Infrastructure Awards 2026 in Singapore.
The Asset Triple A Awards are presented annually by The Asset, one of Asia’s leading capital markets publications, recognizing the region’s landmark project finance and infrastructure deals.
In September 2025, Burj Clean Energy Modaraba and Power Cement Limited signed a PKR 1.8 billion financing agreement to build a 7.5MW wind captive power plant — Pakistan’s first PPA-based green captive wind project structured under a Shariah-compliant ijara model.
Eight months later, it’s not just built. It’s recognized as the benchmark deal for Islamic renewable energy finance in Pakistan’s industrial sector.
None of this happens without a team that believed in the structure before the market did:
- The Bank of Punjab, who led as mandated adviser, arranger and financier
- National Bank Of Pakistan and Pak Kuwait Investment Company, our financing partners
- Hafeez Pirzada, Farooq Khan & Mirza, who structured the legal framework
- Power Cement Limited, who trusted a first-of-its-kind model to power their operations
The plant now reduces Power Cement’s grid dependence and cuts industrial carbon output, proof that Shariah-compliant structures can move at the same speed as conventional project finance, without compromising on either compliance or bankability.
This is the model. More industrial players are watching. We’re building the pipeline to bring them in.
Congratulations to everyone at The Bank of Punjab and Power Cement Limited who made this possible.
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