K-Electric

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K-Electric Limited
FormerlyKarachi Electric Supply Corporation Limited Karachi Electric Supply Company Limited
IndustryEnergy
FoundedSeptember 1913; 107 years ago (1913-09)
HeadquartersKarachi
Area served
Karachi, Pakistan
Key people
Shan A. Ashary (Chairman)
ServicesElectricity Generation, Transmission & Distribution
Number of employees
10,398 (2018)
Websiteke.com.pk

K-Electric (KE) (Urdu: ‎) (formerly known as Karachi Electric Supply Company / Karachi Electric Supply Corporation Limited) is a Pakistani investor-owned utility managing all three key stages – generation, transmission and distribution – of producing and delivering energy to consumers. This is a Pakistani electric supply company, based in Karachi, Sindh, Pakistan. K-Electric is a privately owned and vertically-integrated electricity distribution company[1][2][3]

Timeline[edit]

In 1913, the Karachi Electric Supply Company (KESC) was formed to meet the power needs of a small port town called Karachi, incorporated under the now currently Companies Act, 2017.[4]

In 1952, The Government of Pakistan nationalized KESC in order to facilitate the much needed investment in its infrastructure.[5]

In 2005, KESC was privatized, with the government retaining a stake of approximately 26%, while 71% was transferred to a foreign consortium.[5]

In 2009, the new management, led by Abraaj Capital, took charge, beginning a turnaround story which has thus far seen investments of over US$2.1 billion.[5]

In 2014, a low-cost power plant began operations, saving Pakistan hundreds of millions of dollars and cutting Pakistan's energy deficit. This power plant was funded by International Finance Corporation, a World Bank Group corporation. Since 1994, IFC has been one of the largest supporters of private power projects also known as 'Independent Power Producers (IPPs)' locally in Pakistan. This power plant increased power generation and improved energy supply for approximately 12 million people.[1]

In 2014, KESC Changes Name to K-Electric and also changed its logo to three feathers of a partridge in orange, blue and green representing energy, community and environment respectively.[6]

As of 2017, The Abraaj Group and Aljomaih/NIG have a 66.4% stake in KE; the Government of Pakistan's shareholding stands at 24.36%.[4]

Sustainability[edit]

Over the past few years, K-Electric's efforts have received formal commendation in the form of a number of awards and accolades. These reinforce the organization's determination to continue its progress towards meeting the power needs of Karachi in a sustainable manner.[7]

KE believes in contributing to the health of the communities in which it operates, and maintains a wide range of CSR activities in order to help build a better society for all. KE facilitates communities in energy conservation, environmental protection, health, education, skill development, poverty reduction and other activities for socio-economic development. The company also conducts studies on the potential environmental and societal impact of its new projects, ensuring that KE initiatives act as a catalyst for positive change.[8]

Energy Efficiency Day[edit]

K-Electric was a participant for the international Energy Efficiency Day, celebrated on 5 October, both in 2017 and 2018.[9] KE won the best project award in the category of 'Corporate Solar Sustainability Program of the year' at the Middle East Solar Industry Association's (MESIA) Solar Awards 2018 as part of World Future Energy Summit held in Abu Dhabi.[10]

Tree-planting for Pakistan[edit]

Under K-Electric's Plant for Pakistan initiative, renowned horticulturalist, Tofiq Pasha and KE employees enthusiastically plant trees across the city to green and clean Karachi. To date more than 100,000 trees have been planted by KE. However, it is not always the same. KE is known for cutting trees in various areas for no reason.[11]

K-Electric announces 700MW Power Project at Port Qasim[edit]

On 29 April 2019, K-Electric signed an agreement with the state-owned China Machinery Engineering Corporation (CMEC) for the development a state-of-the-art 700MW Independent Power Producers-based power project at Port Qasim, Karachi. This power project will help meet the growing power demand of Karachi and its adjoining areas.[12][13]

See also[edit]

References[edit]

  1. ^ a b Josef A. Skoldeberg (25 April 2014). "IFC-Funded Power Plant Starts Operations, Expected to Shrink Pakistan's Energy Shortage". International Finance Corporation (IFC - World Bank Group) website. Retrieved 21 February 2020.
  2. ^ Khurram Husain (3 November 2016). "K-Electric's turnaround". Dawn. Retrieved 21 February 2020.
  3. ^ "Company Profile". K-Electric. Retrieved 26 July 2020.
  4. ^ a b "Our Journey - K-Electric".
  5. ^ a b c "Our Journey". K-Electric. Retrieved 1 March 2021.
  6. ^ KESC Changes Name to K-Electric Brandsynario.com website, Published 20 January 2014, Retrieved 23 February 2020
  7. ^ "Our Achievements - K-Electric".
  8. ^ "Home - K-Electric". K-Electric.
  9. ^ "K-Electric participated in international 'Energy Efficiency Day' in 2017". energyefficiencyday.org/ website. Retrieved 22 February 2020.
  10. ^ "K-Electric wins Best Corporate Solar Sustainability Program Award in Abu Dhabi". Pakistan & Gulf Economist (business newspaper). 22 January 2018. Retrieved 22 February 2020.
  11. ^ "K-Electric Plant for Pakistan Promotes Tree Plantation in Karachi". propakistani.pk.
  12. ^ "K-Electric announces 700MW Power Project at Port Qasim". The News International (newspaper). 29 April 2019. Retrieved 22 February 2020.
  13. ^ K-Electric to set up 700MW power plant Dawn (newspaper), Published 30 April 2019, Retrieved 23 February 2020

External links[edit]