Lucky Cement to commence feasibility study of renewable energy project at Karachi
MG News | June 13, 2022 at 09:27 AM GMT+05:00
June 13, 2022 (MLN): The Board of Directors of Lucky Cement Limited (PSX: LUCK) in its emergent meeting on June 11, 2022, has authorized the management of the company to undertake a feasibility study for a renewable energy project at its plant in Karachi, including wind and solar power, the company’s filing on PSX showed today.
Sustainability and adoption of clean energy have remained a cornerstone of Lucky Cement's strategy. Lucky Cement was one of the earliest cement companies to install waste heat recovery (WHR) units at both of its plant sites. Currently, the share of WHR in total power generation of the company is 25%, which not only is environmentally friendly but also results in low-cost energy. Keeping up with its commitment to the promotion of renewable energy, the company is already in the process of installing of 34 MW captive solar power project with a 5.589 MWh Reflex energy storage at its plant site in Pezu, Lakki Marwat, the notice said.
Subject to the board's approval of the feasibility of the renewable energy project at Karachi, the company's initiatives for investment in renewable energy projects will play a key role in cost savings as well as reduction of the country's reliance on imported fuel, it added.
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