Lucky Cement informed the Pakistan Stock Exchange (PSX) on 21st August 2023 about the successful completion and commissioning of our 25 MW captive solar power plant located at its manufacturing site in Karachi. The project was executed within the stipulated timelines and has commenced operations as of August 20, 2023.

With this achievement, Lucky’s installed power generation capacity for self-consumption from renewable sources now stands at 39 per cent, including the 34 MW solar power plant commissioned in December 2022 at its manufacturing site in Pezu and the Waste Heat Recovery plants at both locations.  The combined capacity of both solar power plants has significantly bolstered our commitment to renewable and clean energy.

Investing in renewable energy initiatives will save costs and reduce the Country’s reliance on imported fuel.  Faisal maintained that we remain committed to pursuing environmentally conscious initiatives in the future.

LUCK has also achieved the COD of a 34MW solar plant at its North facility in Dec’22. As a result, the company’s overall green energy capacity has now surged to ~39%, encom¬ passing 59MW of Solar and 55MW of Waste Heat Recovery Plant (WHR) capacity, adds Usama Rauf, an investment analyst at AKD Securities. He added that With this plant’s addition, LUCK’s solar energy share in the power mix is projected to rise to 12.5% from its existing 7.2%. Furthermore, this newly established solar plant is anticipated to yield annual savings of approximately PkR649mn (~PkR2.07/sh).