Islamic, Asian Banks Finance 100-MW Pakistan Wind Project

Law360, New York (May 22, 2012, 2:02 PM EDT) -- The Islamic Development Bank and Asian Development Bank have agreed to chip in to a $133 million financing framework to develop two wind power projects with a combined 100-megawatt capacity in power-starved Pakistan, where steep energy shortages sparked protests earlier this month.

The arrangement, announced Saturday, is one of several cropping up in the renewables-rich country, suggesting it could be on the cusp of a major influx of alternative energy investments. Pakistan's power supply has dwindled due to its reliance on increasingly scarce fossil fuels....
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.