Karachi: Ali Asghar Textile Mills Limited has announced significant progress on its solar power project currently being executed by its wholly-owned subsidiary, Fazal Solar Energy (Private) Limited. The company disclosed this development in compliance with Section 96 and Section 131 of the Securities Act, 2015 and Clause 5.6.1(a) of the Pakistan Stock Exchange Rule Book.
According to the announcement, detailed in the Annual Report for the year ended June 30, 2024, and the Directors' Report for the quarter ended March 31, 2025, the 1,000 kW solar power project has now entered the execution phase. The majority of the equipment necessary for the project's completion has been delivered to the site, and installation activities are in progress. The Engineering, Procurement, and Construction (EPC) contract has been awarded to DSG Energy, recognized as a leading solar EPC contractor in Pakistan. The project is on track to be commissioned by July 30, 2025.
Once commissioned, the total installed solar power capacity at the site will rise to 1,250 kW, including an already operational 250 kW plant. This initiative is projected to have a positive impact on the company's profitability by providing a diversified and sustainable source of revenue.
Key technical aspects of the project include the use of Trine Solar 710 kW panels, noted for their high irradiance efficiency and power output per square foot. Additionally, the project is estimated to achieve an annual reduction in carbon emissions by approximately 912 metric tons of CO2. This reduction in emissions is equivalent to the environmental impact of planting approximately 41,222 trees.
According to information available from the Pakistan Stock Exchange (PSX), this disclosure ensures transparency and keeps market participants informed, adhering to the applicable legal and regulatory framework. The company emphasized that this material information is provided for the stakeholders' information and necessary action.
The solar power project reflects Ali Asghar Textile Mills Limited's commitment to renewable energy initiatives, marking a significant step in enhancing its energy portfolio and contributing to environmental sustainability.