February 03, 2022 (MLN): Yousaf Weaving Mills Limited (YOUW) has contracted with Prism Energy (Private) Limited for the installation of the solar system that shall provide 2MW electricity for a period of 15 years at an economical rate of Rs9.90 per unit which will be raised by 3% per annum, the company informed through a notice to exchange today.
The cutting edge in this contract is that all the investment shall be made by Prism Energy (Private) Limited.
According to the notice, installation work has been commenced and it is expected that the project will be completed up to the second week of the current month.
After successful installation of a solar system, the company could be able to reduce its energy cost substantially, ultimately this will have a positive impact on the operating profitability of the company in upcoming periods.
Further, the company is also in negotiation with Prism Energy (Private) Limited for the installation of an additional 2MW project.
