Power Cement to get electricity from Burj Solar on fixed tariff
MG News | January 07, 2022 at 09:28 AM GMT+05:00
0:00
January 7, 2022 (MLN): Power Cement Limited (PSX: POWER) has signed an agreement with M/s. Burj Solar Energy (Private) Limited for procurement of electricity on a fixed tariff, around 40% lower than the existing grid tariff for the next twenty years, a company filing on PSX showed on Friday.
Burj Solar Energy (the supplier) shall invest by setting up a dedicated 7MW Solar Power Plant at the existing site of the company (POWER), expected to be operational within the next six to eight months.
The agreement will help the company to curtail the impact of swelling electricity expense, which is a material component of cement manufacturing cost.
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