Burj Clean Energy Modaraba, the first listed Islamic green energy fund on the Pakistan Stock Exchange, said it has successfully closed its second short-term sukuk, with the issue upsized to Rs. 1 billion after strong demand from institutional investors.

The company said the sukuk was closed on April 23, 2026, and described the higher subscription as a sign of growing investor confidence in its business model and expansion plans.

BCEM said it is positioning itself as a capital markets platform to channel institutional investment into Pakistan’s green and sustainable energy sector.

The proceeds from the issue will be used to accelerate the company’s project pipeline, including utility-scale wind, solar and battery energy storage system projects designed for corporate and industrial clients, as well as specialized retail solutions.

The funding will also support BCEM’s expansion into the electric vehicle segment, including financing for EVs and related charging infrastructure aimed at supporting wider e-mobility adoption in Pakistan.

Chief Executive Officer Nabeel Malik said the oversubscribed issuance reflected confidence in the company’s scalability and the resilience of its investment model as Pakistan moves toward a more decentralized green economy.

He said BCEM was helping bridge the gap between institutional capital and technical execution while enabling the private sector to pursue energy security through sustainable and cost-efficient solutions.