Installation of 25MW Captive Solar Power Plant Successfully Finished by Lucky Cement
Lucky Cement, one of Pakistan's major cement manufacturers, announced on Monday that its 25MW captive solar power plant situated in Karachi has been successfully commissioned. This achievement was communicated by Lucky Cement through a notice to the Pakistan Stock Exchange (PSX).
Karobar
Lucky Cement, one of Pakistan's major cement manufacturers, announced on Monday that its 25MW captive solar power plant situated in Karachi has been successfully commissioned.
This achievement was communicated by Lucky Cement through a notice to the Pakistan Stock Exchange (PSX).
"We are glad to declare the successful completion and activation of our 25MW captive solar power plant located at our manufacturing site in Karachi," stated the notice.
The project was carried out within the specified timeframes and has officially begun operations as of August 20, 2023.
"With this accomplishment, our installed power generation capacity for self-consumption from renewable sources has now reached 39%, including the 34MW solar power plant commissioned earlier in December 2022 at our manufacturing site in Pezu and the Waste Heat Recovery plants at both locations," Lucky affirmed.
The cement company pointed out that the combined capacity of these two solar power plants has substantially enhanced its dedication to renewable and clean energy.
"The investment in renewable energy initiatives will curtail costs and diminish the nation's dependence on imported fuel. We are resolute in pursuing environmentally conscious initiatives in the times ahead," they added.
Lucky Cement's post-tax profit stood at Rs59.54 billion, marking a growth of more than 63%, in fiscal year 2023, in comparison to Rs36.42 billion during the corresponding period of the previous year.
The Board of Directors also declared a cash dividend of Rs18 per share during the mentioned period.
In the previous year's March, Lucky Electric Power Company Limited, a wholly-owned subsidiary of Lucky Cement, successfully completed the commissioning of its 660MW supercritical, lignite coal-based power plant at Deh Ghangiaro, Bin Qasim, Karachi.
The power plant was synchronized with the national grid towards the end of CY 2021 and achieved its Commercial Operations Date (COD) on March 21, 2022.
