Saif Textile Mills Limited (PSX: SAIF) has become the latest listed company on the Pakistan Stock Exchange (PSX) to move towards solar power system.
In a notice to the PSX on Thursday, the textile mill announced that it has signed a contract with SkyElectric (Private) Limited for the supply and installation of a 10 MW Solar Power System.
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The notice highlighted that once this solar power system becomes operational, it is expected to reduce the power cost and thus have positive impact on the profitability of the company.
Higher power tariffs in the country mean that more and more companies are shifting to solar power as a source of cheaper electricity.
