FFCEL to start trial of power production
STAFF REPORT KHI: The FFC Energy Limited (FCCEL), a 100 per cent owned subsidiary of FFC, would commence trial production of its wind power project, capable of producing 50MW electricity, in June this year and would supply power to the National Transmission and Dispatch Company (NTDC) free of charge till the commercial operations commence from coming November.
According to details, the company has already installed 7 out of its total 33 wind turbines and the remaining 25 would also be completed before the commercial operations start this year.
An official close to this development told this scribe that the commencement of operations of FFCEL would add to the profitability of FFC. According to him, FFC would likely to eye a target price of Rs 225.7 per share, which offers a lucrative dividend yield of 13 per cent.
It is to be mentioned here that Pakistan is desperately exploring alternative energy options to meet its domestic power requirements as the persistent electricity crisis is worsening the situation in the country in terms of halting the national economic activities. Such initiative on the part of FFC would help in minimizing the power shortfall gap in the country.