Fast Cables Enhances Solar Power Capacity to 3MW

Fast Cables, a prominent Pakistani manufacturer of electrical cables, has announced the successful commissioning of an additional 1.1MW solar power system at its production facility. This expansion increases the company’s total solar generation capacity to 3MW.

The publicly listed firm communicated this development to the Pakistan Stock Exchange (PSX) in a notice issued on Tuesday.

The notice stated, “We are pleased to announce that Fast Cables Limited has successfully put into operation an additional 1.1 MW solar power system at its manufacturing plant. This complements the previously installed 1.9 MW capacity, bringing the aggregate installed solar generation capacity to 3MW.”

The company anticipates that this recent advancement will further optimize its energy portfolio by “enabling it to fulfill a substantial portion of its energy demands through environmentally friendly and renewable resources.”

The firm emphasized, “This initiative highlights Fast Cables’ steadfast dedication to environmental sustainability, energy conservation, operational efficiencies, and responsible corporate citizenship.”

Across Pakistan, there’s an increasing inclination towards adopting alternative energy sources, with solar power gaining significant traction in both residential and commercial sectors.

This growing pattern presents challenges for policymakers as they consider its effects on the national grid and energy sector, particularly as electricity consumption remains relatively constant.

Nevertheless, several projects have been launched to capitalize on this comparatively economical energy alternative.

Earlier in the month, Ali Asghar Textile Mills Limited (AATM), a former textile business that has transitioned into a logistics service provider, revealed plans for a 1,00KW (1MW) solar power venture, which is now in the implementation phase.

Additionally, International Steels Limited (ISL), a subsidiary of International Industries Limited, informed the stock exchange that it has finalized and activated a 6.4-megawatt (MW) solar power project at its Karachi-based plant.

Data presented to the Economic Coordination Committee (ECC) indicates that the total installed solar capacity has risen significantly from 321MW in 2021 to 4,124MW by December 2024.