KE creates value creation both for its customers and its employees. This is based on a harmonious pursuit of the company’s operational and financial goals, blended with a holistic value-creation approach which fully incorporates the company’s sustainability objectives.
This approach is demonstrated in the following areas:
Over the last few years, KE has enhanced its generation capacity by approximately 1978 MW and improved its overall fleet efficiency by 27%. K-Electric continues to expand its generation portfolio by developing projects with external developers and through self-generation. In line with its efforts toward cleaner energy,
KE has installed a state of the art 942 MW RLNG-based power plant at Bin Qasim. This plant is considered most efficient amongst KE’s existing generation fleet. It is a remarkable milestone towards fulfilling the rapid growing Energy requirements for the consumers and will also add value to the economy through availability of reliable and sustainable power for business and industry.
Another great achievement is the successful commissioning of KCCPP and BQPS-II Black Start Capability which has enabled KE to become independent from IPPs and NTDC, with lesser restoration time, thus enhancing KE’s technical readiness to export power to the network in case of black outs.
Furthermore, KE Generation continued to achieve excellence in areas of safety, environment & quality. Besides the existing certifications in Safety (OHSAS 18001:2007) and Environment (ISO 14001:2015) and Quality Management system ISO 9001:2015, following certifications have been obtained by all stations:
- ISO-50001, Energy Management System
- ISO-45001, Health & Safety Management System – Transition from OHSAS-18001:2007 (Occupational Health & Safety Assessment Series)
- ISO 55001, Asset Management System
KE has also acquired WWF Green Office Certification for its Power Stations BQPS-II, KCCP, SGTPS and KGTPS.
The organization has a capacity to generate upto 63% of the electricity it distributes through its own systems.
KE’s fleet efficiency has increased from 30.4% in (Jan-Dec, 2008) to 38.6% (Jan-Dec, 2022)
Through on-going investments in its Transmission and Distribution infrastructure, KE has taken major steps towards enhancing its capacity and system reliability as well as customer service. These include projects such as TP-1000, a USD 440 Million transmission enhancement plan, adding 1000 MVA to our network, and Aerial Bundled Cables which replace bare overhead power lines with insulated cables tightly bundled together. The insulated cables are a safer and more reliable way of conducting electricity and also prevent power theft. As a result of its efforts:
- T&D losses have been reduced to an all-time low of 22.2%.
- 61% of consumers are load-shed exempt vs 36% in 2009 and uninterrupted power is supplied to industrial zones.
- The organisation has achieved a complete roll-out of SAP IS-U, the world’s best system for billing, which ensures efficiency and creates transparency by eliminating human intervention.
- K-Electric deploys Genesys – the world’s leading customer experience platform which enhances call handling capacity, builds customer profiles, speeds the turnaround time for complaint logging and response and enables customers to share their feedback at the end of the call.
- 17 KE Integrated Business Centres (IBCs) and 4 departments are certified under the ISO 9001 – 2008 Quality Management System.
Health, Safety and Environment
KE has adopted an unwavering commitment to excellence in Health, Safety, Environment and Quality. The organisation firmly adheres to its motto of ‘No Compromise on Safety’.
There has been marked improvement and growth in crucial performance indicators in recent years, as demonstrated in the below graphs:
The Company has a vast footprints in debt capital market via issuance of multiple short to long term listed and privately placed capital market instruments.
- During August 2020, the Company successfully issued a secured, rated & listed Sukuk of Rs. 25 Billion which is the largest ever listed Sukuk in Pakistan’s private sector. The Sukuk has a tenor of 7 years, including 2 years grace period and has been rated AA+ (Double A Plus) by VIS Credit Rating Company Limited. Pre-IPO subscription amounting to Rs. 23.7 Billion was successfully closed through private placement in January 2020, whereas the remaining portion of Rs. 1.3 Billion was subscribed through public offering.
- The Company is continuing its short-term Sukuk program by issuing privately placed STS with varying amounts and a tenor of 6 months to finance working capital requirements. Continued support of capital market to KE’s STS Programs has not only enabled the Company to maintain a diversified debt portfolio, but also to utilize financing limits of some of the banks for supporting strategic projects of the Company.
Financing for 900 MW BQPS-III Project:
The Company has arranged over USD 600 Million for 900 MW BQPS-III project which is financed through a combination of local and foreign debt. Financing envisaged for the 900 MW BQPS-III project is a combination of local and foreign debt. Foreign loans is backed by Export Credit Agency (ECA) insurance cover from Euler Hermes German (ECA) and Sinosure Chinese (ECA). The Company successfully achieved financial close of BQPS-III financing facilities in April 2022. Majority commitments secured under the foreign and local facilities have already been disbursed
FMO Led Syndicate Financing:
KE successfully secured USD 100 million syndicate financing from Nederlanse Financierings-Maatschappij Voor Ontwikkelingslanden N.V. (FMO) and Société de Promotion et de Participation pour la Coopération Economique (Proparco), Dutch and French Development Finance Institutions (DFIs) respectively, to enhance its transmission and distribution network. This syndicated facility will be used to support the electricity network by improving network safety and loss reduction.
- KE’s HR People Strategy focuses on Enabling, Energising and Empowering employees
- A major focus on employee engagement and culture has commenced
- The Performance Management Framework has been implemented to build a culture of trust, enhance business performance, and retain and develop outstanding employees
- The LEAD and ETP process is in place to strengthen the leadership pipeline by capitalizing talent available both inside and outside the organization.
- Presence on Social Media pages to ensure engagement with potential candidates and create visibility of KE’s Employer Value Proposition (EVP)
Marketing & Communication
- The Marketing and Communications function strengthens KE’s brand image and communication platforms through proactive stakeholder engagement across key strategic, operational and social dimensions.
- K-Electric continues to contribute to the health of the communities in which it operates, maintaining a wide range of ESG activities in order to help build a better society for all.