Gul Ahmed Textile Mills Limited (GATM), a leading textile mill in Pakistan, has announced plans to install a 17.1 MW rooftop solar plant. The Board of Directors (BoD) of GATM approved the signing of a term sheet with K Solar (Private) Limited, a prominent power utility company in Pakistan, for the 17.1 MW project on a Build, Own, Operate, and Transfer (BOOT) basis at its manufacturing facility.
The announcement, made through a notice to the Pakistan Stock Exchange (PSX), highlights the company’s commitment to sustainable energy practices. The project is slated to go live by Q1 2025, contributing significantly to GATM’s energy diversification and operational efficiency goals.
Gul Ahmed’s current solar capacity is 0.5 MW, with an additional 1.4 MW under installation. Upon completion of the new project, the company’s total solar capacity will reach 19 MW. This initiative is expected to result in cost savings and reduce long-term energy risks for GATM.
Incorporated in 1953, GATM is a composite textile mill focused on manufacturing and selling textile products. Despite a 35% increase in sales to Rs 69.1 billion for the six months ending December 31, 2023, the company’s profit after tax decreased by 20% to Rs 1.3 billion compared to the same period last year.
Pakistan’s emphasis on increasing solar energy capacity aligns with global sustainability trends and aims to reduce dependence on traditional fossil fuels. Projects like the Quaid-e-Azam Solar Park in Bahawalpur, developed with Chinese assistance, have significantly bolstered Pakistan’s solar energy capabilities.
