Thatta Cement Company Limited became the latest company to move towards expanding renewable sources as the listed firm announced a ‘green energy plan’ to install 8.3 MW of renewable energy at its premises.
The company shared the development in a notice to the Pakistan Stock Exchange (PSX) on Friday.
“The Board of Directors of Thatta Cement Company Limited approved in principle a green energy plan in order to reduce dependency on grid electricity and savings on costs,” read the statement.
The company shared its management is working on the plan of action and is now in the final stages of installing 3.5 MW solar panels at plant premises.
“Furthermore, the company of late has also entered into an arrangement with M/s Orient Energy Systems FZCO for installation of 4.8 MW windmill project at the plant premises,” it said.
A formal agreement, outlining the terms and conditions of the project, will be signed with Orient Energy Systems FZCO in due course, the company said.
“These initiatives will reduce the company’s dependency on grid electricity by 50%.”
Thatta Cement was of the view that these initiatives for investment in renewable energy project would play a vital role in cost savings.
Pakistan has been actively working to increase its renewable energy capacity to address energy issues and reduce reliance on traditional fossil fuels.
Several projects have been initiated to harness this potential.
Several cement manufacturing firms in the country have also resorted to generating electricity through renewable sources.
In August last year, Lucky Cement, one of Pakistan’s largest cement manufacturer, announced the successful commissioning of its 25MW captive solar power plant located in Karachi.
