BECO Steel Begins Work on 5MW Solar Power Project, Expects PKR 201 Million Annual Savings

PAKISTAN

BECO Steel Limited has informed the Pakistan Stock Exchange (PSX) that it has formally commenced construction and execution of its previously announced expansion project, which includes the installation of a 5MW solar power plant.

In its material disclosure to the Exchange, the company stated that the contract for the installation of solar panels has been awarded and procurement as well as other necessary arrangements for the project are currently underway.

As part of the project requirements, BECO Steel has also applied to the Lahore Electric Supply Company (LESCO) for enhancement of its sanctioned load. Both the solar installation and the load enhancement process are expected to be completed within approximately four months.

Upon commissioning, the 5MW solar power system is projected to generate an average of 600,000 kWh of electricity per month. This shift towards renewable energy is expected to significantly reduce the company’s energy costs, resulting in estimated savings of around PKR 16.8 million per month, or approximately PKR 201 million on an annualized basis.

ER News Desk

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