Pakistan’s steel manufacturer decides to go solar

Agha Steel Mills will erect a 2.25 MWs solar power plant at Port Qasim, Karachi to meet its power requirements

Agha Steel Mills has announced that it will produce its power through solar means after the government announced it will cut gas supply to the steel industry. The steel industry typically uses natural gas for the production of electricity. The solar plant, which will produce 2.25 MWs, will be erected at its production facility located at Port Qasim, Karachi.

The largest solar project by a steel manufacturer will be financed by Meezan Bank a PSX filing from the company noted. “Meezan Bank has been nominated as the lead Islamic banking arranger for the project,” the filing read. “This would be one of the largest solar power projects installed by a steel manufacturer in Pakistan.”

The project will help lower the carbon emissions by a whopping 46,000 tons over its lifetime of 20 years. Other steel makers can follow suit and reduce the carbon emissions significantly as well. it is especially a practical step given that the gas availability situation is getting worst and the government has to cut supply for many industries for months each year.

Clean, Green Energy

Pakistan has faced power generation issues in the last fifteen years. Even though the situation has improved drastically in the last few years, economic growth requires a constant increase in electricity production. Such initiatives can help the industries in producing green and clean energy that is more cost-effective over the years. It will also remove months’ long downtimes faced by the industries due to shortage of gas. The government, meanwhile, can help other sectors of the industry with more energy resources at hand. It is a truly win-win situation.

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