ISLAMABAD: In accordance with the most recent situation, five Independent Power Producers (IPPs) initialed documents on Tuesday to terminate their power purchase agreements (PPAs).
A senior official from the Task Force on Power told The News that the aforementioned IPPs will not get future capacity payments, saving them roughly Rs300 billion over the course of the remaining three to ten years of their contracts.
On the other hand, past electricity costs and capacity fees would be covered. The five IPPs have, more significantly, waived interest totaling Rs 40 billion.
“The five IPPs (one established under the 2002 power policies, one under the 1994 power policies) — M/s Hubco Power, M/s Rousch Power, AES Lalpir Power, Saba Power Plant, and Atlas — will proceed after the federal cabinet grants approval.
