JK Spinning Mills adds 8MW solar capacity to expand renewable energy

J.K. Spinning Mills Limited (JKSM) announced on Tuesday it had expanded its renewable energy footprint by adding 8 megawatts (MW) of solar power generation capacity.

The company shared the development in a notice to the Pakistan Stock Exchange (PSX) today.

“We are pleased to inform you that the company’s commitment to expand the use of clean and renewable energy by increasing its reliance on solar power,” the notice read.

JKSM said it aimed to reduce its carbon footprint, promote environmentally responsible operations, and contribute to a more sustainable future while creating long-term value for its stakeholders.

“The company has added solar power generation capacity of 8 MW, which will meet our energy needs and also help reduce environmental pollution.

This strategic investment will enhance energy efficiency, generate significant cost savings, and strengthen the company’s long-term operational sustainability.”

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.

J.K. Spinning Mills Limited (JKSM) was incorporated in Pakistan as a public limited company on January 7, 1987, under the repealed Companies Ordinance, 1984 (now the Companies Act, 2017).

The company is involved in textile manufacturing, which includes ginning, spinning, stitching, and the buying and selling of yarn, fabrics, and other goods.