Thatta: The Pakistan Credit Rating Agency Limited (PACRA) has maintained the long-term and short-term entity ratings of Gul Ahmed Wind Power Limited (GAWPL) at A+ and A1 respectively, signifying a stable outlook for the company. GAWPL, which operates a 50 MW wind power plant in Jhimpir, District Thatta, Sindh, continues to demonstrate financial stability with significant internal cash generation and robust insurance coverage to mitigate business risks.

According to The Pakistan Credit Rating Agency Limited, GAWPL has consistently maintained a stable performance since its commercial operations began in October 2016. The facility is backed by strong sponsors with expertise in the energy sector, enhancing the company's creditworthiness. Additionally, GAWPL has successfully managed its project debt repayments, with a significant portion of both foreign and local debt already serviced by July 2024. The company's liquidity position remains solid, supported by substantial liquid investments.

The power plant's performance and financial health are crucial in a region where wind speed variability can impact electricity production and revenue streams. Despite these challenges, GAWPL's historical data and current operations suggest a capacity to manage financial risks effectively. The future stability of cash flows and the ability to meet debt obligations will be pivotal in maintaining its current ratings, especially amid potential regulatory changes and the ongoing issue of circular debt within the country's energy sector.