May 17, 2024 (MLN): The Board of Directors of Thatta Cement Company Limited (PSX: THCCL) approved in principle a green energy plan to reduce dependency on grid electricity and save on costs, the company's filing on PSX revealed today.
The management is working on the plan of action and is now in the final stages of installing 3.5 MW solar panels at plant premises.
Furthermore, the company of late has also entered into an arrangement with Orient Energy Systems FZCO for the installation of a 4.8 MW windmill project at the plant premises.
These initiatives will reduce the company's dependency on grid electricity by 50%, the notification added.
"The contribution of renewal energy in the power mix will significantly increase our commitment towards sustainable environment practices," it reads.
The company's initiatives for investment in renewable energy projects will play a vital role in cost savings as well as the reduction of the country's reliance on fossil fuels.
A formal agreement will be signed with Orient Energy Systems FZCO in due course, outlining the terms and conditions of the project.
