GATM to boost solar capacity to 19 MW by Q12025

By MG News | March 21, 2024 at 09:42 AM GMT+05:00

0:00

March 21, 2024 (MLN): The Board of Directors of Gul Ahmed Textile Mills Limited (PSX: GATM) has allowed the management to sign a Term Sheet with K Solar (Private) Limited in respect of 17.1 MW on Build, Own, Operate and Transfer (BOOT) basis on the rooftop of the Manufacturing Facility, the company's filing on PSX revealed.

The project is expected to come live by Q1 2025, it added.

The company's current installed solar capacity stands at 0,5 MW and 1.4 MW is under 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.

"Furthermore, it reinforces our commitment to achieving our sustainability targets in line with global best practices and regulatory requirements," the notification reads.

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