Burj Clean Energy Modaraba (BCEM) has successfully closed its second short-term Green Sukuk, raising Rs1 billion after the issuance was upsized in response to strong demand from institutional investors.
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The company, listed on the Pakistan Stock Exchange, is positioning itself as a key platform to channel institutional capital into Pakistan’s green energy sector, supporting the country’s transition toward sustainable and decentralised energy solutions.
Proceeds from the sukuk will be deployed to accelerate BCEM’s expanding project pipeline, including utility-scale wind and solar energy projects, Battery Energy Storage Systems (BESS) and tailored energy solutions for corporate and industrial clients, along with retail offerings.
The funding will also enable BCEM to strengthen its presence in the electric vehicle (EV) ecosystem, financing EV adoption and developing critical charging infrastructure to support Pakistan’s growing e-mobility landscape.
The oversubscribed issuance reflects strong investor confidence in BCEM’s scalable business model and the broader shift toward clean energy investments in Pakistan. Company leadership noted that the initiative helps bridge the gap between capital markets and sustainable energy deployment, enabling private sector participation in energy security.
The sukuk, which is unsecured and privately placed, has received a preliminary ‘A1’ rating from VIS Credit Rating Company Limited, indicating a solid credit profile and strong institutional backing.
With this latest capital raise, BCEM is set to play a pivotal role in advancing Pakistan’s renewable energy infrastructure, energy storage capabilities and clean mobility solutions, contributing to long-term sustainability and economic resilience.
