Mughal Energy approves installation of 25MW solar power plant
Mughal Energy Limited, a subsidiary of Mughal Iron & Steel Industries Limited, has approved the installation of a 25-megawatt (MW) solar power plant to offset auxiliary power consumption at its existing power generation facility. The company’s board of directors approved the project at a meeting held on Wednesday, according to the filing submitted to the Pakistan Stock Exchange (PSX). The…
Mughal Energy Limited, a subsidiary of Mughal Iron & Steel Industries Limited, has approved the construction of a 25-megawatt solar power plant. This decision was made during a board meeting on Wednesday, as indicated in a filing submitted to the Pakistan Stock Exchange (PSX). The project financing will involve a mix of debt and equity, with possible contributions from sponsors and directors.
The exact financial structure, including the debt-to-equity ratio, will be determined based on the project's specific needs and commercial viability. The company has not disclosed the anticipated project cost or the projected completion date. In August, Mughal Energy Limited successfully launched the main 31.50 MW turbine for its hybrid power plant project.
The company was founded in Pakistan on February 16, 2010, under the Companies Ordinance, 1984, which has since been replaced by the Companies Act, 2017. The primary business of Mughal Iron & Steel Industries Limited revolves around the manufacturing and sale of mild steel products in the ferrous sector.
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