Rs3 billion AAA-rated green sukuk launched for telecom solar, battery projects

Pakistan has launched a Rs3 billion AAA-rated green sukuk to finance solar power and battery storage projects for telecom infrastructure. The issuance, led by InfraZamin Pakistan Ltd in partnership with Infralectric Private Limited, marks the first green sukuk for the telecom sector in the country.

DIB Pakistan Ltd acted as the lead arranger, with participation from Bank Alfalah Ltd and Meezan Bank Ltd.

Proceeds from the sukuk will be used to deploy lithium-ion Battery Energy Storage Systems (BESS) and solar energy solutions for telecom tower networks across Pakistan.

The transaction received strong investor interest and was oversubscribed, with initial disbursement planned after completion of regulatory and procedural requirements.

InfraZamin is providing a 100% principal guarantee for the issuance, aimed at enhancing investor confidence and supporting climate-focused financing in capital markets.

The project is expected to generate employment in installation, maintenance, manufacturing, monitoring and technical operations.

By replacing diesel-based power systems with solar and battery solutions, the initiative aims to reduce emissions and improve the operational reliability of telecom infrastructure.