In a significant push for sustainable energy, Premium Textile Mills Limited has announced a major investment of $4.15 million to install a new 7.5MW wind turbine. This move highlights a growing trend of Pakistani companies turning to renewable energy to ensure sustainable operations and reduce costs.
The listed company, which manufactures cotton and polyester yarn, made the disclosure in a formal notice to the Pakistan Stock Exchange (PSX). The project was approved by the company’s Board of Directors, underscoring a commitment to environmentally responsible practices.
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Boosting a Green Energy Mix
This new turbine is part of a broader green initiative by the textile firm. The company already has 20MW of operational solar power and is currently installing another 7.5MW wind turbine from a previously approved project.
Once the new turbine is completed, the company’s total wind power capacity will reach 15MW. This expansion is expected to have a substantial environmental impact, allowing the company to avoid approximately 30,000 metric tons of carbon emissions annually.
A Strategic Shift for Pakistan’s Industry
The project is scheduled to be commissioned by the last quarter of 2026. Upon completion, the combined power from solar and wind will cover roughly 67% of the company’s total energy needs. This shift not only reduces its carbon footprint but also shields it from power cuts and rising electricity tariffs.
This investment by Premium Textiles mirrors a wider national movement, as businesses and consumers in Pakistan increasingly adopt renewable energy solutions like solar and wind power for a more sustainable and self-reliant future.
Frequently Asked Questions (FAQs)
1. Why is a textile company investing in wind energy?
To reduce its reliance on the conventional power grid, lower its electricity costs, and minimize its environmental impact by cutting carbon emissions.
2. What is the total cost of the new wind turbine project?
The project to install the 7.5MW wind turbine has an estimated cost of $4.15 million.
3. When will the new wind turbine be operational?
The company expects to complete and commission the new turbine by the last quarter of 2026.
4. How much of the company’s energy will come from renewables?
After this installation, a mix of solar and wind power is expected to meet about 67% of the company’s total energy requirements.
