LAHORE: In a move reflecting Pakistan’s growing industrial shift toward renewable energy, Beco Steel Limited has signed an agreement with a renewable energy solutions provider to install a 2-megawatt (MW) solar power system at its Badami Bagh plant in Lahore.
The company disclosed the development in a notice to the Pakistan Stock Exchange, terming it a “strategic investment” in green energy. The project, with an estimated capital expenditure of Rs121 million, is expected to deliver annual savings of around Rs129.65 million on energy costs.
Beco said the initiative will lower production costs, enhance operational efficiency, and reduce its carbon footprint. “This step is a key component of the company’s long-term strategy to promote sustainable operations and maximize shareholder value,” it stated.
Formerly known as Ravi Textile Mills, Beco Steel is a listed integrated steel producer with a product portfolio ranging from scrap and billet to specialty steel.
The company joins a growing number of Pakistani manufacturers turning to renewables to curb costs and ensure energy security. Recent months have seen similar announcements from Kohinoor Mills Limited (7.2MW), Dewan Cement Limited (6MW), and International Steels Limited (6.4MW), while Tariq Corporation has initiated a smaller-scale 200KW project.
With industries increasingly adopting solar, policymakers are assessing its impact on the national grid, where overall electricity demand has remained largely stagnant despite the surge in distributed generation.
