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KE plans 400MW renewable energy capacity - Inside Financial Markets

KE plans 400MW renewable energy capacity

– The News

K Electric (KE) is planning to add up to 350 to 400 MW electricity through a renewable energy project that the company is mapping out to start soon, an official report said on Monday.

KE issued a detailed report with a focus on future of energy and sustainability of the power sector and showing the company’s efforts to create value in the business with its commitments to make a meaningful contribution towards the UN Sustainable Development Goals.

“Sustainability has been embedded into the company’s operational vision, and in addition to existing renewable capacity, the company plans to add 350 to 400 MW under an ambitious energy diversification strategy,” KE said.

As the only privatized integrated power utility in Pakistan, KE has been working on the sustainability agenda among power utilities. Within the report, KE displayed its non-financial performance on topics that impact environment, social, and governance factors.

KE issued its key highlights for the year 2020-21, which included Project Sarbulandi that focuses on 12 high loss areas of Karachi with a goal to positively impact impact 10 million residents. Alongside this, the report said, it had also adopted public parks and schools for renovations, and installed 6 water filtration plants impacting over 55,000 people in support of community development. Furthermore, the company also claimed free medical camps in these areas.

Stating it’s agenda of diversity and gender equality, the company reported that it inducted 40 female community safety ambassadors under its Roshni Baji Program launched in February 2021. Additionally, the report said, these women were provided training in self-defense, how to operate and maintain a motorcycle, and a complete training course of over 8,000 man-hours to certify them as the first female electricians in the country, capable of planning and executing the internal wiring on a single-phase meter.

Syed Zaki Hussain

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Inside Financial Markets was a joint publication of Pakistan Stock Exchange (PSX)and Society of Technical Analysts Pakistan (STAP)