KARACHI: Lucky Cement Ltd said on Wednesday it has entered into an arrangement with Orient Energy Systems Ltd for supplying and installing a 25.3-megawatt captive solar power at its Karachi plant.

A regulatory filing with the Pakistan Stock Exchange said the estimated cost of the project is Rs3 billion.

The company is in the process of establishing letters of credit for the import of equipment, which is subject to receiving approval from the State Bank of Pakistan.

The project is expected to be completed in eight months after the establishment of the letters of credit, it said.

The 25.3MW project is in addition to an earlier announced 34MW captive solar power project with a 5.59MW reflex energy storage at the company’s another plant in Pezu, Lakki Marwat.

“Sustainability and adoption of clean energy has remained a cornerstone of the company’s strategy… it was one of the first cement companies to install waste heat recovery units at both plant sites,” the filing said.

Published in Dawn, September 15th, 2022