Solar momentum builds in Pakistan’s industry as Fast Cables expands capacity to 3MW

Fast Cables, a leading electrical cables manufacturer in Pakistan, has successfully commissioned an additional 1.1MW solar power system at its manufacturing facility, boosting its solar generation capacity to 3MW.

The listed company disclosed the development in a Tuesday notice to the Pakistan Stock Exchange (PSX).

“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 3MW,” read the notice.

The company believes that the latest 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,” the company said.

There has been a growing shift towards alternative energy sources in Pakistan, especially solar, which has become increasingly popular among residential and commercial sectors.

This rising trend has left decision-makers grappling with its implications for the national grid and energy sector, as electricity consumption remains stagnant.

Nonetheless, several projects have been initiated to exploit this relatively cheaper energy source.

Earlier this month, Ali Asghar Textile Mills Limited (AATM), a former textile unit turned logistic service provider, announced that it was developing a 1,000KW (1MW) solar power project, which has now entered the execution phase.

Meanwhile, International Steels Limited (ISL), a subsidiary of International Industries Limited, informed the bourse earlier that it had completed and activated a 6.4-megawatt (MW) solar power project at its factory in Karachi.

As per figures presented to the Economic Coordination Committee (ECC), the total installed solar capacity grew from 321MW in 2021 to 4,124MW by December 2024.