Fast Cables Limited has successfully commissioned an additional 1.1 megawatt (MW) solar power system at its manufacturing facility, raising its total installed solar capacity to 3.0 MW, the company disclosed to the Pakistan Stock Exchange on Tuesday.
“We are pleased to inform you that Fast Cables Limited has successfully commissioned an additional 1.1 MW solar power system at its manufacturing facility. This is in addition to the previously installed 1.9 MW capacity, bringing the total installed solar generation capacity to 3.0 MW,” read Fast Cables’ notification sent to the PSX.
The latest addition builds on the 1.9 MW system previously installed and is part of the company’s broader strategy to reduce reliance on conventional power sources.
The company said that this development will further enhance its energy mix by enabling it to meet a considerable portion of its power needs through clean and renewable sources. The initiative underscores Fast Cables’ unwavering commitment to environmental sustainability, energy efficiency, operational savings and responsible corporate citizenship.
Following the announcement, the company’s stock rose 2.63% to Rs 23.77 as of 11:14 AM on Tuesday. Investor response reflected confidence in the firm’s renewable energy strategy and potential cost-saving benefits.
The company has a market capitalisation of approximately Rs 14.95 billion and 628.85 million shares outstanding, with 25%—or about 157.2 million shares—available as free float on the market.
Fast Cables is engaged in manufacturing and selling of all types of electric wires, cables and conductors.
