Pakistan has taken a significant step in green financing with the launch of its first AAA-rated Green Sukuk worth PKR 3 billion dedicated to the telecom industry. The Shariah-compliant instrument will fund solar power and battery storage systems for telecom towers, aiming to cut diesel use and lower carbon emissions across the country.
InfraZamin Pakistan Limited provided a 100% principal guarantee for the Sukuk issued by Infralectric Private Limited, a company under the Brillanz Group. DIB Pakistan Limited structured and arranged the deal, with participation from Bank Alfalah Limited and Meezan Bank Limited.
The funds will support one of Pakistan’s largest deployments of lithium-ion Battery Energy Storage Systems (BESS) and solar solutions. These will power around 1,955 telecom tower sites, helping reduce reliance on imported diesel, improve network reliability, and bring down operational costs while cutting emissions.
Key Details of the Transaction
- Issuer: Infralectric Private Limited (Brillanz Group)
- Guarantor: InfraZamin Pakistan Limited (full principal guarantee)
- Structurer & Arranger: DIB Pakistan Limited
- Amount: PKR 3 billion
- Rating: AAA
- Purpose: Solarisation and advanced battery storage for telecom towers
The project combines solar PV panels, lithium-ion batteries, AI-based optimization, and remote monitoring. This setup is expected to make telecom operations cleaner and more efficient.
What Leaders Said
Maheen Rahman, CEO of InfraZamin Pakistan, highlighted the role of credit enhancement in opening doors for green projects. She noted that the deal shows how such mechanisms can bring in capital for climate-friendly infrastructure.
Bilal Qureshi, Group CEO of Brillanz Group, described the transaction as a new standard. He pointed out that private capital can speed up the shift to cleaner energy, reduce dependence on diesel and foreign exchange, and support stronger telecom networks.
Muhammad Ali Gulfaraz, CEO of Dubai Islamic Bank Pakistan Limited, said the bank remains committed to the green transition through this Sukuk.
Atif Bajwa, President and CEO of Bank Alfalah Limited, expressed pride in the bank’s role. He called it an important move for green finance and sustainable infrastructure in Pakistan.
Why This Matters
Telecom towers in Pakistan have traditionally relied heavily on diesel generators, especially during power outages. Shifting to solar and battery storage can lower costs for operators and help the country meet its climate goals. The Sukuk also marks progress in using Islamic finance tools for environmental projects.
This initiative builds on earlier efforts in green and sustainable financing in Pakistan. It comes as the government continues to encourage private investment in clean energy and digital infrastructure.
