As Pakistan’s corporate sector increasingly turns to renewable energy to meet its power needs, Attock Cement became the latest entrant to join this trend, announcing the successful commissioning of a 4.8MW windmill project.
The listed company shared the development in a notice to the Pakistan Stock Exchange (PSX) on Thursday.
“We would like to convey the information that our windmill of 4.8MW capacity has been successfully commissioned and is now fully operational with effect from January 15, 2025.
Following the announcement, the company’s share price surged to Rs228, an increase of Rs3.75 or 1.67%.
Attock Cement Pakistan Ltd was incorporated in Pakistan on October 14, 1981 as a public limited company. The company is a subsidiary of Pharaon Investment Group Limited Holding S.A.L, Lebanon. Its main business activity is the manufacturing and sale of cement.
Last month, it was learnt that Pharaon Investment Group Limited (Holding) S.A.L, Lebanon, the parent company of Attock Cement Pakistan Limited (ACPL), was exploring strategic options, including a potential sale, about its investment in the cement business in Pakistan.
However, no formal decision has been taken in this regard.
In Pakistan, there has been a growing shift towards alternative energy sources, which have become increasingly popular among residential and commercial sectors.
The trend is especially prevalent among cement manufacturing firms in the country.
In November last year, Kohat Cement Company Limited (KOHC) installed and commissioned a 5.34 MW on-grid solar power plant.
Similarly, Lucky Cement, one of Pakistan’s largest cement manufacturers, in August last year announced the successful commissioning of its 25 MW captive solar power plant in Karachi.
DG Khan Cement Company Limited (DGKC), in 2023, successfully installed a 7 MW on-grid solar power plant at its site in Khairpur.
However, this rising trend has left decision-makers grappling with its implications for the national grid and energy sector, as electricity consumption remains stagnant.
Comments