Shams Power (Private) Limited has financed and deployed a solar system at AkzoNobel Pakistan, a leading paints and coating company, at their manufacturing facility in Lahore.
Under this agreement, Shams Power has installed a 0.5 MW solar power system, allowing AkzoNobel Pakistan approx. EUR 14,000 reduction in their electricity bills and savings of 387,000 Kg of carbon emissions every year. This is equivalent to replacing 1,000 barrels of gasoline or equivalent to replacing 0.4 million pounds of coal burned.
AkzoNobel Pakistan bears no capital expenditure or O&M cost, and pays only for solar power generated on a Power Purchase Agreement (PPA) basis. Shams Power will operate and maintain the solar systems for the duration of agreement term, and will transfer the equipment at the end of the term to AkzoNobel Pakistan.
"We are committed to sustainability by demonstrating environmentally responsible operations and we believe: sustainability is business and business is sustainability. I am thankful to the Shams Power team for their collaboration and support in achieving this major milestone, and delivering cost-effectiveness and energy sustainability to Akzo Nobel" said Saad Mahmood Rashid, CEO AkzoNobel, Pakistan
"We at Shams Power are excited at the launch of this project and are thankful to the AkzoNobel Pakistan leadership and management team for their vision, and commitment green energy, contributing in a positive way to mitigating climate change. Shams Power has enabled Akzo Nobel to do all this, and reduce their operating expenses from electricity, whilst bearing no financial cost for CAPEX or OPEX," said Omar Malik, Director, Shams Power.-PR