LUCK commissions 25 MW captive solar power plant in Karachi

MG News | August 21, 2023 at 03:23 PM GMT+05:00

0:00

August 21, 2023 (MLN): Lucky Cement Limited (PSX: LUCK) has announced the successful completion and commissioning of its 25 Megawatt (MW) captive solar power plant, located at the company’s manufacturing site in Karachi, LUCK’s filing on the local bourse revealed today.

The project was executed within the stipulated timelines and has commenced operations as of August 20, 2023.

“With this achievement, our installed power generation capacity for self-consumption from renewable sources now stands at 39%, including the 34MW solar power plant earlier commissioned in December 2022,” the notice reads.

The combined capacity of both solar power plants has significantly bolstered the company's commitment to renewable and clean energy.

Additionally, investments in renewable energy initiatives will not only save costs but also reduce the country's reliance on imported fuel.

The principal activity of the company is the manufacturing and marketing of cement.

At the time of writing, the company's share is being traded at Rs606.39, down by Rs7.57 or 1.23% compared to the previous close.

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