Gul Ahmed Textile to install 17.1MW rooftop solar plant

Gul Ahmed Textile Mills Limited announced on Thursday that it will install a 17.1 MW roof-top solar power plant to meet its energy needs.

According to a notice sent to the Pakistan Stock Exchange (PSX), the company said that its board of directors has accorded approval to the management to sign a Term Sheet with K Solar (Private) Limited in respect of 17.1 MW on a build, own, operate and transfer (BOOT) basis on the rooftop of the manufacturing facility of the company.

The Project is expected to come live by the first quarter of 2025.

The company’s current installed solar capacity stands at 0.5 MW and 1.4 MW is under the installation phase. After this project, the solar installed capacity will stand at 19 MW.

“This initiative will play a key role in cost savings and underscores our proactive efforts to diversify our energy portfolio, enhance operational efficiencies, and mitigate long-term energy risks,” read the notice.

Furthermore, it reinforces the company’s commitment to achieving sustainability targets in line with global best practices and regulatory requirements.