Islamabad December 2 2023: Maple Leaf Power Limited, subsidairy of Maple Leaf Cement Company, is currently setting up 25 MW MV Solar Power Plant at its existing generation facility, Iskandarabad district Mianwali.
Maple Leaf Cement Factory Limited (MLCF) was the most actively traded stock on the Pakistan Stock Exchange on Friday with traded volume of more than 43 million shares. Share price of the company gains PKR 2.81 or 7.11 percent to close the trading at PKR 42.36.
Major equipment (Solar Panel) of the aforementioned plant is being purchased from 'link° Solar" and inverter and data logger from "Huawei' which are Chinese organization with market presence in many countries.
The total project cost is expected to be around be PKR 3.34 billion (11.517 million USD, PKR/USD rate of 290) and will be financed through 40 percent own generated funds (Equity) of the Company and 60 percent Debt. The generation facility is expected to achieve COD by June 2024.
Maple Leaf Power Limited was incorporated in Pakistan on 15 October 2015 as public limited company under the company's ordinance, 1984 (now Companies Act, 2017). The company has been established to set up and operate a 40 megawatt coal fired power generation plant at Iskandarabad, District Mianwali, Punjab, Pakistan for generation of electricity. The Company's registered office is located at 42-Lawrence Road, Lahore. The principal objective of the company is to develop, design, operate and maintain the electricity power generation plant and in connection therewith to engage in the business of generation, sale and supply of electricity. The company is a wholly owned subsidiary of Maple Leaf Cement Factory Limited. The ultimate parent company is Kohinoor Textile Mills Limited.
The company was granted electricity generation license (No. SGC/119/2016 dated December, 20 2016) under Section 16 of the Regulation of Generation, Transmission and Distribution of Electric Power Act 1997 (the 'NEPRA ACT") by National Electric and Power Regulatory Authority (NEPRA). The company entered into a power purchase and steam purchase agreements with holding company on 04 July 2017 and 31 October 2019 respectively which are valid for 20 Years.