Fortunate Cement plans to put in a 25.3MW captive solar energy mission in Karachi at an estimated value of Rs3 billion.
“In continuation of our earlier disclosure on June 13, 2022, concerning feasibility examine for a renewable vitality mission, we’re happy to tell that the corporate has entered into an association with Orient Vitality Techniques Non-public Restricted for the availability and set up of a 25.3 MW captive solar energy mission at our Karachi plant,” the corporate introduced in a discover to Pakistan Inventory Trade (PSX). “The mission will take round eight months after the institution of a letter of credit score (LC) and comes at an estimated value of Rs3 billion,” stated JS International Cement Sector Analyst, Waqas Ghani Kukaswadia.
“Since photo voltaic crops have a low particular yield, a 25 MW plant will give a internet output of round 5MW, which is prone to lead to an annual saving of Rs480 million for the corporate,” defined Waqas.
“The corporate’s 34MW photo voltaic and 5.6MW reflex vitality storage tasks at Pezu, Lakki Marwat are already underway and are anticipated to be on-line with slightly delay by the March quarter,” he additional added.
“Sustainability and adoption of unpolluted vitality has remained a cornerstone of the corporate’s technique; it was one of many first cement corporations to put in waste warmth restoration (WHR) models at each of its plant websites,” he stated.
“The corporate’s initiatives for funding in renewable vitality tasks will play a key function in value financial savings in addition to discount of the nation’s reliance on imported gasoline,” acknowledged the PSX notification.
Revealed in The Specific Tribune, September 15th2022.