InfraZamin Pakistan Limited, in collaboration with Infralectric, a Brillanz Group company, DIB Pakistan Limited, Bank Alfalah Limited, and Meezan Bank Limited, has announced the signing of Pakistan’s first-ever PKR 3 billion AAA-rated Green Sukuk for the telecom sector. The move marks a major milestone in sustainable infrastructure financing and climate-focused capital market development.
Under the agreement, InfraZamin Pakistan is providing a 100% principal guarantee for the Green Sukuk issued by Infralectric Private Limited. Dubai Islamic Bank Pakistan acted as the lead arranger of the transaction.
The funds raised through the Sukuk will be used to finance one of Pakistan’s largest commercial deployments of lithium-ion Battery Energy Storage Systems (BESS) and solar energy solutions for telecom tower infrastructure nationwide. The offering reportedly received strong investor interest and was oversubscribed. Initial disbursement is expected after completion of formalities.
Maheen Rahman, CEO of InfraZamin Pakistan, said the transaction demonstrates how innovative credit enhancement can unlock private investment for green infrastructure while strengthening Pakistan’s debt capital markets.
Bilal Qureshi, Group CEO of Brillanz Group, said the project would help accelerate Pakistan’s energy transition, reduce diesel dependence, lower foreign exchange pressure, and support a more resilient telecom network.
Officials from Dubai Islamic Bank Pakistan, Bank Alfalah, and Meezan Bank also described the initiative as an important step in promoting green finance, Islamic capital markets, and environmentally responsible infrastructure investment in Pakistan.
Pakistan’s telecom industry serves nearly 190 million mobile subscribers and operates over 50,000 tower sites, many of which depend on weak-grid or off-grid power systems. This has historically increased reliance on diesel generators, operating costs, and carbon emissions.
Through the new project, Infralectric will install battery storage systems, solar PV solutions, AI-enabled optimization tools, and remote monitoring technology across approximately 1,955 telecom tower sites. The initiative is expected to reduce diesel usage, improve network reliability, cut costs, and lower emissions.
The project is also expected to create hundreds of direct and indirect jobs in installation, maintenance, manufacturing, remote monitoring, and field operations.
This landmark transaction supports Pakistan’s progress toward several Sustainable Development Goals, including Affordable and Clean Energy, Industry Innovation and Infrastructure, Climate Action, and Partnerships for the Goals.
