NewsCorporate ActionsGokak Textiles Solar Plant Hit by Lightning Strike, 20MW Capacity AffectedGokak Textiles Solar Plant Hit by Lightning Strike, 20MW Capacity Affected
Gokak Textiles Limited reported a transformer failure at its Solar Power Plant in Gokak Falls, Karnataka, on May 13, 2025. The incident, caused by heavy lightning and grid supply failure, has reduced the plant's power generation capacity by 50%. One of the two 25 MVA transformers (PTR-2) suffered internal damage, requiring factory repairs. The company has adequate insurance coverage, including 311.31 crores for material damage and 37.84 crores for business interruption. Gokak Textiles has notified insurers, initiated damage assessment, and is working to restore normal operations.
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Gokak Textiles Limited , a prominent textile manufacturer, has reported a significant incident at its Solar Power Plant in Gokak Falls, Karnataka. On May 13, 2025, the plant experienced a transformer failure due to heavy lightning and grid supply failure, impacting half of its total power generation capacity.
Incident Details
The company disclosed that both 25 MVA transformers (PTR-1 & PTR-2) at the solar plant tripped during the incident. While PTR-1 was successfully restored, PTR-2 suffered internal damage to its Y-phase winding and coils, necessitating factory repairs. As a result, 20MW of the plant's total 40MW capacity has been affected.
Impact on Operations
The transformer failure has led to a 50% reduction in the solar plant's power generation capability. This incident may potentially impact the company's operations and energy costs in the short term, depending on the duration of the repairs and the extent of the damage.
Insurance Coverage
Gokak Textiles has reported that it maintains adequate insurance coverage for such incidents. The company's comprehensive insurance policy includes:
| Coverage Type | Amount (in crores) |
|---|---|
| Material damage | 311.31 |
| Business interruption | 37.84 |
This coverage is expected to mitigate the financial impact of the incident on the company.
Response and Next Steps
The company has taken prompt action in response to the incident:
- Insurance companies and surveyors have been notified of the damage.
- Efforts are underway to restore normal operations at the solar plant.
- A full assessment of the damages is being conducted to determine the extent of the impact and required repairs.
Gokak Textiles Limited is working diligently to minimize disruptions to its operations and restore full power generation capacity at its solar plant. The company's proactive approach in maintaining comprehensive insurance coverage demonstrates its preparedness for such unforeseen events.
Investors and stakeholders will likely be watching closely for updates on the repair timeline and any potential impact on the company's financial performance in the coming quarters.
Historical Stock Returns for Gokak Textiles
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +2.23% | +1.64% | -9.50% | +36.40% | -55.54% | +566.67% |
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