Nestlé powers Rs2bn renewable energy investment in Pakistan

LAHORE: Nestlé reaffirms its commitment to Pakistan’s vision for renewable energy with investment of Rs 2 billion in renewable power and sustainability initiatives.

In a first, Nestlé Pakistan inaugurated a 2.5 megawatt solar power plant completed with an investment of Rs 480 million at its Kabirwala Factory that aims to reduce 1,800 tCO2e of greenhouse gas emissions per year.

Nestlé Pakistan’s Rs 2 billion investments include two biomass boilers and additional solar power plants at its other manufacturing sites in Pakistan. It is part of its efforts to reduce greenhouse gas emissions, with a special focus on renewable energy in line with its 2050 Net Zero commitments, as well as Pakistan government’s UN climate change pledge.

Inaugurating the facility, Ambassador of Switzerland to Pakistan Georg Steiner said, “Nestlé Pakistan’s continuous investment and presence in Pakistan for 35 years, shows its confidence in the country, and this solar power plant is a testament to its commitment to create shared value for the people Pakistan for a cleaner environment. This solar power plant is exactly what can help the Pakistan government achieve its Nationally Determined Contribution (NDC) commitment to have 60 percent Renewable Energy by 2030.”

Jason Avanceña, Chief Executive Officer, Nestlé Pakistan, said “As we celebrate 35 years of operations in Pakistan, we are committed to be a force for good throughout our value chain for the future of the country by boosting investment in renewable energy and sustainability initiatives.”

“We are continuing to accelerate the use of renewable energy and this inauguration today is part of our larger renewable energy strategy along with our future plans to introduce biomass boilers and a similar solar plant soon at our Sheikhupura Factory and other manufacturing sites,” Avanceña added.

Nestlé announced its commitment to reduce its emissions by 20% (versus a 2018 baseline) by 2025, halve them by 2030 and reach Net Zero by 2050 in line with UN SDGs 13 and 15.

Having completed 35 years of operations in Pakistan, Nestlé is also committed to the economic growth by enhancing exports to USD 18 million in 20 countries for earning foreign revenues. Nestlé Pakistan has also further strengthened its localization journey, moving to over 90% of raw and packaging requirements locally in 2023 while strengthening local industry.

Copyright Business Recorder, 2023