Karachi March 21 2024: The Board of Directors of Gul Ahmed Textile Mills Limited has accorded approval to the Management of the Company to sign Term Sheet with K Solar Limited in respect of 17.1 MW on Build, Own, Operate and Transfer
(BOOT) basis, according to company filing to the exchange.
The unit will be installed on the roof top of the manufacturing facility of the Company.
The Project is expected to come live by Q1 2025, the notice said.
The Company’s current installed solar capa city 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.
The Company’s initiative will play a key role in cost savings and underscore company’s proactive efforts to diversify it’s energy portfolio, enhance operational efficiencies, and mitigate long-term energy risks.
Furthermore. it reinforces company commitment to achieving our sustainability targets in line with global best practices and regulatory requirements.
