Power Cement Limited (POWER) has informed Pakistan Stock Exchange (PSX) today that the Company decided to explore environment friendly renewable energy solutions without incurring any major CAPEX.

Accordingly, the Company, it has signed an agreement with M/s. Burj Solar Energy (Private) Limited (the Supplier) on January 06, 2022 for procurement of electricity on a fixed tariff (around 40% lower than the existing grid tariff) for the next twenty (20) years.

The Supplier shall invest by setting up a dedicated 7MW Solar Power Plant at existing site of the Company, expected to be operational with the next six to eight months.