THCCL plans to reduce 50% of grid dependancy via renewables

In a notification sent to PSX on 17/05/2024, Thatta Cement Company Limited (THCCL) has announced to cut grid dependency by 50% with renewable energy projects.

The Board of Directors of Thatta Cement Company Limited approved in principle a green energy plan in order to reduce dependency on grid electricity and savings on costs. The management is working on the plan of action and is now in the final stages of installing 3.5 MW solar panels at lant premises. Furthermore, the Company of late has also entered into an arrangement with M/s Orient Energy Systems FZCO for installation of 4.8 MW windmill project at the plant premises. These initiatives will reduce Company’s dependency on grid electricity by 50%. The contribution of renewal energy in the power mix will significantly increase our commitment towards sustainable environment practices. The Company’s initiatives for investment in renewable energy project will play a vital role in cost savings as well as reduction of country’s reliance on fossil fuels. A formal agreement will be Signed with Orient Energy Systems FZCO in due course, outlining the terms and conditions of the project.

THCCL shares were last trading at Rs. 36.05 today.

📢 Announcement: We're Moving to Discord – Join Us There! 

Hi everyone! 👋

To improve your experience and offer additional features, we’re moving our community from WhatsApp to Discord!

Here’s what you’ll get on Discord:

✅ Research Reports Channel – Access a regularly updated compilation of valuable research reports
✅ PSX24/7 Bot – Ask anything about the PSX and get instant insights powered by KSEStocks historical data
✅ Organized Channels – Separate spaces for discussions, news, reports, and more
✅ Better Notifications – Control what you see and when
✅ Smoother Interaction – Easier to follow and participate in conversations
✅ Organized trading ideas - trading ideas that you can discuss and keep track of

Join now 👉 https://discord.gg/kST9hWjS

⚠️ This post reflects the author’s personal opinion and is for informational purposes only. It does not constitute financial advice. Investing involves risk and should be done independently. Read full disclaimer →