Power Cement Ltd (PCL) has signed a term sheet with Burj Solar (Pat) Ltd for the development and financing of a 9.6MW wind power project at Deh KaloKohar, Nooriabad Industrial Estate, District Dadu (Sindh), Pakistan.
The project aims to reduce approximately 15,000t of carbon emissions annually while generating around 30GWh of clean energy annually.
"This project aims to reduce our reliance on fossil fuels and promote sustainable development," said Salman Gogan, Power Cement's company secretary, on the Pakistan Stock Exchange website.
The wind power project will be developed under a 20-year build-own-operate-transfer (BOOT) contract. Burj Solar will develop and finance the project (after achieving its financial close). A formal agreement is expected be signed in due course, outlining the terms and conditions of the project.
