Ali Asghar Textile Mills Embarks on 1MW Solar Project

Ali Asghar Textile Mills Limited (AATM), transitioning from textiles to logistics, is advancing a 1,00KW (1MW) solar energy venture, now in its execution phase.

The publicly listed firm communicated this development to the Pakistan Stock Exchange (PSX) on Wednesday.

The notice stated, “We are pleased to inform our shareholders and the investment community that the 1,000KW solar initiative undertaken by our fully owned subsidiary, Fazal Solar Energy (Private) Limited, has commenced execution.”

The company also mentioned that the majority of the required equipment has been successfully delivered to the site, and installation work is actively in progress. The Engineering, Procurement, and Construction (EPC) contract has been awarded to DSG Energy.

“According to the agreed timeline, the project is anticipated to be operational by July 30, 2025. Upon successful commissioning, the aggregate installed solar capacity at the location will reach 1,250KW, which includes the pre-existing 250KW plant.”

The textile company believes this new project will positively impact its earnings and establish a diverse and dependable revenue stream.

Providing technical details, the company confirmed the use of Trina Solar 710KW panels for the project.

The company stated, “The project is expected to yield an approximate annual reduction of 912 metric tons of CO2 emissions, which is equivalent to the environmental benefits of planting around 41,222 trees.”

According to information posted on the company’s website, Ali Asghar Textile Mills Limited was founded in 1969 as a textile spinning operation. However, in 2011, management made a strategic decision to discontinue textile spinning activities and invest in warehousing and logistics.

Pakistan has seen an increasing trend toward alternative energy, particularly solar power, which has become increasingly popular among both residential and commercial consumers.

This growing pattern has prompted decision-makers to consider its ramifications for the national grid and energy sector, as electricity consumption remains stable.

Nevertheless, various projects have been initiated to leverage this comparatively cost-effective energy source.

Earlier in the month, International Steels Limited (ISL), a division of International Industries Limited, completed and initiated a 6.4-megawatt (MW) solar power project at its Karachi facility.

In March, Tariq Corporation Limited (TCORP), a producer of sugar and related products, announced intentions to establish a 200KW solar power system at its facility.

In February, Olympia Mills Limited revealed intentions to install a 500KW off-grid solar power system at its facility.

According to data presented to the Economic Coordination Committee (ECC), total installed solar capacity increased from 321MW in 2021 to 4,124MW by December 2024.