Burj Solar and Power Cement Limited (PCL) have announced the collaboration for establishment and financing of 9.6MW wind power plant.
According to a statement issued today, this collaboration highlights the collective efforts of Burj and PCL toward fostering private-sector partnerships towards sustainable development in Pakistan. In 2022, Burj had already developed and financed a 7 MW solar power project for PCL under the same BOOT model, which has been successfully operating and dispatching electricity to PCL.
The wind project involves the installation of 2 x 4.8 MW wind turbines at PCL’s premises under the 20 years BOOT structure. The project demonstrates substantial commercial viability as it offers significant savings to PCL’s energy cost, reduce reliance on fossil fuel, thus helping in import substitution for the Country.
The collaboration further aims at reducing approximately 15,000 metric tons of carbon emissions annually and generating around ~30 GWh of clean energy on yearly basis.
Mr. Arif Habib, Chairman, Arif Habib Group, has expressed Power Cement’s unwavering dedication to the utilization of renewable energy sources. Our pledge to fostering a cleaner energy ecosystem and promoting sustainability transcends the boundaries of our organization. We firmly believe that through collaborative efforts with Burj, we can collectively mitigate the adverse effects of climate change and achieve UN Sustainable Development Goals.
Speaking on the occasion, Muneer Kamal, Chairman, Burj Modaraba and CEO, Pakistan Bankers Association (PBA), expressed his deep appreciation for the collaboration between Burj Solar and Power Cement. He stressed the crucial role of the banking sector required in facilitating development of clean energy infrastructure. Mr. Kamal emphasized the critical role Burj Modaraba will play in promoting clean energy initiatives.
Saad Zaman, Group CEO, Burj Capital, said that Burj Capital is deeply invested in driving the adoption of leading clean energy technologies and its e-mobility application into Pakistan. We are committed to empowering both businesses and consumers to access and utilize natural resources to fulfill their energy needs. Through the launch of the nation’s first Green Modaraba, Burj is creating a vital capital market platform to catalyze growth within the sector.
In a statement by Kashif Habib, CEO of Power Cement, underscored the significance of the project, which was recently approved by the Board of Directors, for the 20-year collaboration with Burj Solar for 9.6 MW wind power, which is poised to yield considerable cost savings. The strategic move not only supports the sustainability goals but also underscores the commitment to renewable energy.
