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Pantera Energy, Shahkam Industries sign MoU

PanteraEnergyShahkamIndustries

Lahore, 11 March 2020 – Staff Reporter:

In a landmark development, Pantera Energy, a leading solar energy equipment and solution provider signed a Memorandum of Understanding with Shahkam Industries to provide 3.32 MW rooftop Solar Power plant. The power plant will be installed and made operational during the upcoming summers according to the terms of the contract. When completed, the unit will be one of the largest rooftop solar power plants in Pakistan.

This solar power plant, being installed on self-consumption basis, will produce around five million units of clean and renewable electricity every year. This will result in a significant drop in the carbon footprint of Shahkam Industries, a major textile industry in Pakistan. This development will also significantly reduce electricity costs for the textile giant and shield them against ever rising electricity prices in Pakistan.

Speaking on the occasion, Muhammad Shoaib, CEO of Pantera Energy told the attendees that being one of the oldest companies working in this relatively new market, Pantera Energy has always been at the forefront of solar revolution in Pakistan. He said, “I hope this new endeavor marks a new wave in the country’s renewable energy revolution. Widespread use of renewable energy is critical for reducing environmental challenges and trade deficits that have crippled our economy.”

Furqan Ali, Director Commercial at Pantera Energy also addressed the ceremony. He briefed that, “This will be the biggest consolidated solar energy system on a textile unit rooftop in Lahore. It is also one of the largest rooftop solar powerplant installed at a single site in Pakistan. Pantera is one of the most known and reputable solar companies in Pakistan with more than 100 Megawatts installed in Pakistan in residential, commercial, industrial and agricultural sectors providing top of the line quality products and services by consistently applying advancement in technology. At Pantera, our primary focus is on reliability, safety and longevity of our solar solutions. This power plant provides us an opportunity to showcase our skills and our commitment to set quality benchmarks for solar installations in Pakistan.”

The event was attended by representatives of both companies and corporate executives from the industry. Shahid Butt, CEO of Shahkam industries expressed his hope that teams of both the companies will collaborate to make this project a successful endeavor and result in a good return on investment for his company to set a great example for the rest of the industry to follow.