Burj Clean Energy Modaraba (BCEM) has successfully raised Rs1 billion through its second short-term sukuk, reflecting strong demand from institutional investors. The issuance was upsized due to this high interest and officially closed on April 23, 2026, marking another milestone in the company’s fundraising efforts.
As the first listed Islamic green energy fund on the Pakistan Stock Exchange, BCEM is positioning itself as a key platform for directing institutional capital into Pakistan’s renewable and sustainable energy sector.
The funds raised will be used to support a broad pipeline of projects, including utility-scale wind and solar developments, battery energy storage systems (BESS), and energy solutions for corporate and industrial clients, along with offerings for retail consumers.
Part of the proceeds will also be allocated to expanding the company’s presence in the electric vehicle (EV) sector. This includes financing electric vehicles and contributing to the development of EV charging infrastructure.
Chief Executive Officer Nabeel Malik said the oversubscription of the sukuk demonstrates strong investor confidence in BCEM’s business model and growth strategy, particularly as Pakistan’s energy landscape continues to shift toward cleaner and more decentralized solutions.