Latest news with #KotAdduPowerCompanyLimited
Business Recorder
4 days ago
- Business
- Business Recorder
KAPCO approves Rs800mn sale of gas turbines to local steel maker
Kot Addu Power Company Limited (KAPCO) has received shareholder approval to sell its Gas Turbines GT-3 and GT-4, along with associated components, to Rizwan Steel (Private) Limited for Rs800 million. The power producer disclosed the development in its notice to the Pakistan Stock Exchange (PSX) on Wednesday. 'The consent of shareholders of Kot Addu Power Company Limited be and is hereby accorded to the disposal of plant and machinery of the company comprising Lot-1 (Gas Turbines (GT-3 and GT-4)) along with associated parts and components to Rizwan Steel (Private) Limited at a price of Rs800 million, subject to requisite approval(s) as per details given in statement of material facts,' read the notice. KAPCO informed that Shahab Qader Khan, Chief Executive and/or Adolf Anthony Rath, company secretary, are authorised to dispose of the plant and machinery and to act on behalf of the company 'in doing and performing all acts, matters, things and deeds to implement the disposal and the transaction contemplated by it'. Last month, KAPCO signed a Tri-Partite Power Purchase Agreement (TPPA) along with the schedules with the Central Power Purchasing Agency (Guarantee) Limited (CPPA-G) and National Grid Company of Pakistan Limited to govern electricity sales from KAPCO's power plant. Incorporated in Pakistan on April 25, 1996, as a public limited company, KAPCO's principal activities are to own, operate and maintain a multi-fuel fired power station with fifteen generating units with a nameplate capacity of 1,600 MW in Kot Addu, Punjab. The company sell the electricity produced to a single customer, the Water and Power Development Authority (WAPDA) under a Power Purchase Agreement (PPA).
Business Recorder
05-06-2025
- Business
- Business Recorder
KAPCO signs TPPA with CPPA-G, NGCPL
KARACHI: Kot Addu Power Company Limited (KAPCO) has signed a Tri-Partite Power Purchase Agreement (TPPA) with Central Power Purchasing Agency (CPPA-G) and National Grid Company of Pakistan Limited (NGCPL). The development was disclosed in a notice to the Pakistan Stock Exchange (PSX) on Wednesday. Last month, on May 20th, The National Electric Power Regulatory Authority (NEPRA) approved the tripartite agreement, governing electricity sales from KAPCO's 1,600 MW power plant in Kot Addu, Punjab. According to KAPCO's notice, NEPRA granted approval of the TPPA on May 19, 2025, subject to certain conditions being met. The conditions include conducting an Initial Capacity Test (ICT) and Heat Rate Test (HRT) to benchmark efficiency, with an independent engineer evaluating and determining Simple Cycle Efficiency/Heat Rate numbers. Once these requirements are fulfilled, the TPPA will become effective for the operational phase of the power plant. Meanwhile, NEPRA had granted a provisional tariff to KAPCO on a Take-or-Pay basis last month after a public hearing on April 8, 2025. Incorporated in 1996, KAPCO operates a multi-fuel fired power station with the capacity of 1,600 MW, selling electricity to the Water and Power Development Authority (WAPDA) under a Power Purchase Agreement (PPA). Copyright Business Recorder, 2025
