Lucky Electric Power Company Limited (LEPCL), a wholly-owned subsidiary of Lucky Cement, is ready to generate electricity from its 660MW power plant, which has been set up with an investment of approximately Rs. 1.315 billion.
The company had arranged an amount of Rs. 750 million foreign financing for evacuation of power, whereas the company arranged a financing amount of Rs. 450 million from the domestic resources.
According to stock filing, the power-producing company successfully completed the commissioning of its 660 MW lignite coal-based power plant at Deh Ghangiaro, Bin Qasim, Karachi.
The power plant was synchronized with the national grid towards the end of 2021, and since then, has been involved in extensive testing and completing relevant inspections and commissioning, thereby achieving Commercial Operations Date (COD) on 21 March 2022.
“The power plant has been designed to operate on Thar Lignite Coal, subject to its availability; however, during the interim period, it will mainly operate on imported Lignite Coal till the completion of Phase-III of Sindh Engro Coal Mining Company (SECMC), which is expected in the second quarter of 2023,” read the notice.
The addition of 660 MW electricity to the national grid will not only play a key role in increasing the energy security and prosperity of Pakistan, but will also go on to reduce the cost of electricity and reliance on imported fuel after completion of Phase-III of SECMC.
With the completion of the power plant, the company’s portfolio of businesses has further diversified and now consists of local and international cement operations, automobile, chemicals, and agri sciences, mobile phone assembling, and energy, the stock filing stated.
Power generation in Pakistan witnessed an increase of 11.1 percent YoY to 8,088 GWh (12,036 MW) during February 2022, compared to 7,281 GWh (10,835 MW) during February 2021, showed latest data released by the National Electric Power Regulatory Authority (NEPRA).
