Tariq Corporation Limited, producer and seller of sugar and by-products, has decided to install a 200 KW solar power system to improve sustainability and operational efficiency, according to a filing at the Pakistan Stock Exchange (PSX) on Monday.
“We are pleased to inform you that Tariq Corporation Limited (TCORP) has decided to install a 200 KW solar power system, reinforcing its commitment to improve sustainability and operational efficiency,” read the company’s notice to the PSX.
The company said that installation of solar will significantly reduce its annual electricity costs and lower our carbon footprint.
According to the PSX website, Tariq Corporation is principally engaged in the business of production and sale of sugar and its by-products.
Pakistan is witnessing a growing shift towards alternative energy sources, particularly solar, which is gaining popularity in both residential and commercial sectors.
Last week, Big Bird Foods Limited announced to install a 3-megawatt solar power system, which is expected to reduce annual electricity costs, currently estimated at PKR 600 million, and lower its carbon footprint.
Meanwhile, last month, Olympia Mills Limited revealed plans to install an off-grid solar power system at its factory, aiming to reduce its reliance on grid electricity and achieve significant cost savings, with the Board of Directors approving the initiative, which is estimated to cost around PKR 50 million.
