6 days ago
- Business
- Business Recorder
Pakistan's renewable rush: Another textile firm plans 7.2MW solar system
In a move aligned with Pakistan's industrial sector's growing shift toward renewable energy, Kohinoor Textile Mills Limited (KTML) is installing a 7.2-megawatt solar power system as part of its push for sustainable operations and cost efficiency.
The listed company disclosed the development in its notice to the Pakistan Stock Exchange (PSX).
'The Board of Directors is also pleased to apprise that the company, as part of its commitment towards sustainable energy and focused operational efficiency, is in the process of installing a 7.2MW solar renewable energy system,' read the notice.
It added that the company's management is confident that by the end of the first quarter ending on September 30, 2025, KTML will be utilising more than 20% of its operational energy requirement through renewable energy sources.
'This will result in cost savings and reduction of the country's reliance on imported fuels,' it said.
Incorporated on 21 December 1987 in Pakistan under the Companies Ordinance, 1984 (Now Companies Act, 2017), Kohinoor Mills Limited is engaged in the business of textile manufacturing and generating, supplying electricity.
At the time of filing, KTML share price was being traded at Rs81.15, an increase of Rs7.38 or 10%.
There has been a growing shift towards alternative energy sources in Pakistan, especially solar, which has become increasingly popular among residential and commercial sectors.
This rising trend has left decision-makers grappling with its implications for the national grid and energy sector, as electricity consumption remains stagnant.
Nonetheless, several projects have been initiated to exploit this relatively cheaper energy source.
Last month, J.K. Spinning Mills Limited announced plans to install 7MW of additional solar capacity as part of the company's strategic initiatives.
Dewan Cement Limited successfully commissioned a 6 MW solar power system at its manufacturing facility in Karachi.
In May, International Steels Limited (ISL), a subsidiary of International Industries Limited, completed and activated a 6.4-megawatt (MW) solar power project at its factory in Karachi.
In March, Tariq Corporation Limited (TCORP), engaged in the manufacturing of sugar and its by-products, announced plans to set up a 200KW solar power system at its facility.
