Lucky Cement to Install 25.3 MW Solar Plant in Karachi

  • by Sharoon Jan
  • 3 months ago
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Lucky Cement to Install 25.3 MW Solar Plant in Karachi

Lucky Cement plans to install a 25.3 MW captive solar power project in Karachi at an estimated cost of Rs 3 billion.

“In continuation of our earlier disclosure on June 13, 2022. Regarding feasibility study for a renewable energy project. We are pleased to inform you that the company has entered into an arrangement with Orient Energy System Private Limited for the Supply and Installation of a 25.3MW captive solar power project at our Karachi Pant.” The company announced in a notice to Pakistan Stock Exchange (PSX). “The project will take around eight months after the establishment of a letter of credit (LC) and comes at an estimated cost of Rs 3 billion,” said S Global Cement Sector Analyst, Waqas Ghani Kukaswadia.

“Since solar plants have a low specific yield, a 25MW plant will give a net output of around 5MW, which is likely to result in an annual saving of Rs480 million for the company,” explained Waqas.

The company’s 34MW solar and 5.6MW reflex energy storage projects at Pezu, Lakki Marwat are already underway and are expected to be online with a little delay by the March quarter,” he further added.

“Sustainability and adoption of clean energy have remained a cornerstone of the company’s strategy. It was one of the first cement companies to install waste heat recovery (WHR) units at both of its plant sites,” he said.

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