Bestway Cement and Reon Energy Limited on Tuesday energised 14.3MW captive solar power project at Farooqia, Khyber-Pakhtunkhwa, a statement said.
The plant is part of around 50MW project deal dispersed across Bestway’s four locations, i.e., Farooqia, Chakwal, Kallar Kahar and Hattar. The deal between Bestway and Reon is the largest distributed energy project in the region to-date. The project is owned and financed by Bestway.
The solar PV project is expected to produce approximately 78,385MWh (megawatt hours) annually. The output energy will be used on-site, resulting in substantial savings for the company in the cost of energy and will significantly reduce the company’s reliance on the national grid, it said.
The energy generated will also cut around one million tonnes of CO2 equivalent emissions over the life of the project, which is equal to the plantation of approximately 2.1 million trees.
Reon, a part of the Dawood Group, is Pakistan’s leading solar and storage solutions specialist with deep domain expertise in project development, financial advisory, engineering, procurement, and construction (EPC), and asset performance management, the statement said.
Bestway Cement is the largest cement manufacturer with more than 11 million tonnes/annum capacity and is among the five largest taxpayers in Pakistan. Bestway Cement Limited is a subsidiary of British company Bestway Group.