Power Cement partners with Burj Solar for a 9.6MW wind venture

In a notification sent to PSX on 03/05/2024, Power Cement Limited (POWER) has announced that it signed a term sheet for the 9.6 MW Wind Power Deal.

Power Cement Limited (PCL) has signed a term sheet with Burj Solar (Private) Limited (Burj Solar) for the development and financing of a 9.6 MW wind power project at the Company’s premises. This project is an effort to reduce our reliance on fossil fuels and promote sustainable development. Salient features include the following: e A 9.6 MW wind power project under a 20-year Build-Own-Operate-Transfer (BOOT) structure. e Project aims to reduce approximately 15,000 metric tons of carbon emissions annually while generating around 30 gigawatt-hours of clean energy every year. e Burj Solar shall develop and finance the project (after achievement of its financial close). e A formal agreement shall be signed in due course, outlining the terms and conditions of the project.

The shares of POWER were last trading at Rs 5.08 today.