Family Based Solar Business, NetLine Raises Funds At $4.5 Million Valuation

Intermarket securities, a leading brokerage firm, confirmed a 4.5 million USD valuation for NetLine, a family-owned business in the energy and power sector. NetLine is known as one of the pioneering businesses in the field of solar and UPS (uninterruptible power supply). Netline has demonstrated top-performing capabilities as a turnkey Solution specialist firm serving some of Pakistan’s largest industries and companies since 2002. Iqbal Zavary, the founder and chairman of NetLine, commented, Pakistan’s booming solar industry is also one of the reasons why businesses like NetLine are making such strides and achieving success. Pakistan aims to boost its share of renewable energy to 60% as compared with 4% today. Energy demand is increasing by more than 9% annually in Pakistan – and it is projected that total energy demand will further increase 8-fold by 2030, and 20-fold by 2050 in Pakistan. Renewable energy sources, in particular solar power, present a sustainable solution to the widening energy demand and supply gap. Wajid Hussain, CEO of Intermarket Securities, said, ‘’ Pakistan has an abundance of solar irradiance and receives sun energy virtually all year. When paired with international investment, this represents a fantastic chance to harvest solar energy from the most irradiated places in the country. The Pakistani solar energy market is expected to be spurred by supporting government policies and initiatives by well-developed businesses like NetLine”. NetLine is a prominent provider of energy solutions with a focus on constant innovation to improve the energy performance of electrical installations in infrastructures for industrial and commercial sites. NetLine is one of Pakistan’s leading players in Critical Power and Energy Solutions, with offices in Pakistan, UAE, and the USA.