Power Cement Ltd has signed an agreement to set up a 7MW solar power plant at its existing site in Jamshoroo, Sindh state, Pakistan.
Power Cement has decided to explore environment-friendly renewable energy solutions without incurring any major capital expenditures. "The company has signed an agreement with Burj Solar Energy (Private) Ltd for procurement of electricity on a fixed tariff (around 40 per cent lower than the existing grid tariff) for the next 20 years," a company bourse filing stated.
According to the agreement, Burj Solar will invest by setting up a dedicated 7MW solar power plant which is expected to be operational within the next six to eight months.
