Panther Tyres Limited, a Pakistani tyre maker, has commissioned a 2.5MW solar power system at its manufacturing facility, marking a significant step toward renewable energy adoption.
The listed company disclosed the development in its notice to the Pakistan Stock Exchange (PSX) on Thursday.
“We are pleased to inform you that Panther Tyres Limited has successfully commissioned a 2.5MW solar power system at its manufacturing facility,” read the notice.
The company was of the view that the commissioning would strengthen its energy mix by meeting a considerable portion of its power requirements through clean and renewable sources.
“The initiative reaffirms Panther Tyres commitment to environmental sustainability, energy efficiency, operational cost savings, and responsible corporate citizenship,” it added.
There has been a growing shift towards alternative energy sources in Pakistan, especially solar, which has become increasingly popular among residential and commercial sectors.
This rising trend has left decision-makers grappling with its implications for the national grid and energy sector, as electricity consumption remains stagnant.
Nonetheless, several projects have been initiated to exploit this relatively cheaper energy source.
Earlier this month, Kohinoor Mills Limited (KML) announced plans of installing a 7.2-megawatt solar power system as part of its push for sustainable operations and cost efficiency.
Dewan Cement Limited successfully commissioned a 6 MW solar power system at its manufacturing facility in Karachi.
In May, International Steels Limited (ISL), a subsidiary of International Industries Limited, completed and activated a 6.4-megawatt (MW) solar power project at its factory in Karachi.
In March, Tariq Corporation Limited (TCORP), engaged in the manufacturing of sugar and its by-products, announced plans to set up a 200KW solar power system at its facility.
