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Karachi: Lucky Cements sets up a second solar energy system for its consumption, expecting to save half a million rupees yearly.
Recently, Lucky Cements sent a notification to the Pakistan Stock Exchange announcing the news of their solar transition, stating;
“We are pleased to announce the successful completion and commissioning of our 25 MW captive solar power plant located at our manufacturing site in Karachi.”
The company also mentioned that the second solar plant started operating on August 20, 2023.
Sources revealed that the estimated cost of Lucky Cements 25 MW Solar Plant is around 3 billion rupees. The solar energy plant will give a net output of around 5 MW, resulting in the company's annual savings of Rs 480 million.
Formerly, the Lucky Cement company installed a 34 MW captive solar plant to produce 48GWh power annually. The solar power station was installed at the company's manufacturing site in KPK. It is fully operational with effect from December 29, 2022.
With the installation of a second solar power unit and an operational 34 MW PV plant, the combined self-consumption capacity of Lucky Cements from renewable sources has become 39%.
GM Finance and Company Secretary Faisal Mahmood stated that;
“The combined capacity of both solar power plants has significantly bolstered our commitment to renewable and clean energy.”
He also notified that;
“The investment in renewable energy initiative will save costs and also reduce the country’s reliance on imported fuel. We remain committed to pursuing environmentally conscious initiatives in the future.”
The share of renewable energy in total power production in Pakistan is only 6-7%. However, the country aims to increase it to 30% by 2030. The Lucky Cements solar energy project aligns with the government’s strategy and will help the country reach the net zero goal.
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