Karachi: Agha Steel Industries has signed an agreement with Renewable Power Pvt Ltd to install the biggest solar power plant in the country, according to a news report published on February 3.
This solar power plant will have the capacity to generate 2.25-megawatts and will be installed at Port Qasim, Karachi. Moreover, Meezan Bank has been chosen as the lead Islamic banking arranger to oversee the project.
As per the official statement released by the Agha Steel Industries, the power plant will initiate a ‘Green Steel Revolution’ by helping in sustaining the country’s energy mix and reducing the burden on the national grid. The project is also expected to reduce the carbon emission by 46,000 tonnes in 20 years of operation.
The solar power plant that’s being developed on a self-consumption basis is expected to generate 3.3 million units of clean and renewable energy annually – which will significantly dampen the carbon footprint of the steel manufacture. It was also highlighted that Agha Steel Industries is expanding to increase its rebar capacity from 250,000 tonnes per year to 650,000 tonnes per year.
Agha Steel CEO Hussain Agha said that in line with Sustainable Development Goals (SDG), the company hopes to become the first green steel manufactures of the country to achieve ‘zero reliance on fossil’ fuels by 2025.
Hazafa reveres the art of writing and has been turned into a property enthusiast by profession. Her daily survival kit includes; tea, coffee, keyboard and paperbacks.
