Panther Tyres Commissions 2.5MW Solar Power System

Panther Tyres Limited, a Pakistani tyre manufacturer, has taken a substantial leap towards embracing renewable energy by inaugurating a 2.5MW solar power facility at its production plant.

The publicly listed firm communicated this development in its notification to the Pakistan Stock Exchange (PSX) on Thursday.

The notification stated, “We are delighted to announce that Panther Tyres Limited has effectively initiated a 2.5MW solar power system at its manufacturing site.”

The company believes that this commencement will enhance its energy composition by fulfilling a considerable portion of its energy demands through environmentally friendly and sustainable resources.

It further stated, “This project underscores Panther Tyres’ dedication to ecological sustainability, energy optimization, financial efficiencies, and responsible corporate conduct.”

Across Pakistan, there’s a growing inclination towards alternative energy options, notably solar power, which has gained traction among both residential and commercial consumers.

This escalating pattern has prompted decision-makers to contemplate its effects on the national infrastructure and energy sector, given that electricity usage remains constant.

Nevertheless, several initiatives have been launched to harness this comparatively economical energy resource.

Earlier in the month, Kohinoor Mills Limited (KML) revealed intentions to establish a 7.2-megawatt solar power system as part of its pursuit of sustainable procedures and cost reduction.

Dewan Cement Limited successfully started up a 6 MW solar power system at its Karachi-based manufacturing plant.

In May, International Steels Limited (ISL), an affiliate of International Industries Limited, finalized and activated a 6.4-megawatt (MW) solar energy venture at its Karachi factory.

In March, Tariq Corporation Limited (TCORP), involved in producing sugar and related products, disclosed strategies to install a 200KW solar energy arrangement at its premises.