Business Recorder
Panther Tyres Limited, a Pakistani tyre maker, has announced the installation of a 3.5MW solar power system at its manufacturing facility. “Panther Tyres Limited has awarded the contract for the installation of a 3.5MW solar power system to a well-established solar energy solutions provider,” read the notice. The company said that the procurement process has started, and implementation work is currently underway. “Once this project is completed and operational, the company’s total solar energy capacity will increase to 6MW, including the existing 2.5MW solar power system. This step is expected to further improve cost efficiency by reducing energy expenses and increasing the use of clean, renewable energy,” it added. Sharing key details of the project, Panther Tyres said that the project involves the installation of high-efficiency Jinko 720W solar panels along with Huawei inverters. The project would lead to “an estimated annual reduction of around 4,700 metric tons of CO2 emissions, which is environmentally equivalent to planting approximately 220,000 trees”. The South Asian nation of about 224 million people depends heavily on imported oil and liquefied natural gas, leaving it vulnerable to global price swings. Fuel shortages resulting from the Iran war and the effective closure of the Strait of Hormuz have prompted the government to scramble for alternative energy sources, while introducing austerity measures such as shorter office hours. Last year, Panther Tyres commissioned a 2.5MW solar power system at its manufacturing facility. There has been a growing shift towards alternative energy sources in Pakistan, especially solar, which has become increasingly popular among residential and commercial sectors.
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