Pakistan’s Pioneer Cement Limited (PSX: PIOC) has approved the installation of a 28.3-megawatt solar power plant at its manufacturing facility in Chenki in Punjab, as part of efforts to reduce energy costs and strengthen sustainability initiatives, according to a stock exchange filing cited by Mettis Link News.
The company said the solar project is expected to be commissioned and begin commercial operations during the second quarter of fiscal year 2026-27.
According to the filing, the investment forms part of Pioneer Cement’s strategy to enhance operational efficiency while supporting long-term value creation for shareholders. The company expects the solar facility to generate substantial savings on electricity expenses once operational.
The project will be financed entirely through internal cash generation, reflecting the company’s intention to fund the expansion without external borrowing.
The move comes as Pakistan experiences rapid growth in solar power adoption across the industrial and commercial sectors. Rising electricity tariffs and concerns over energy security have prompted manufacturers to increasingly invest in captive renewable energy systems to lower operating costs and reduce dependence on the national grid.
The trend mirrors broader developments in Pakistan’s energy landscape. Reuters reported last year that rooftop solar installations were expanding at an unprecedented pace, with distributed solar capacity expected to exceed daytime grid electricity demand in several major industrial centres. While the growth of solar power has helped businesses and households reduce energy bills and carbon emissions, it has also intensified financial challenges for power distribution companies facing declining grid consumption and mounting debt.
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