Shareholders of Rousch Power Ltd Approve Early Termination of Contract With Govt

Shareholders of Rousch (Pakistan) Power Limited (RPPL)] have approved the early termination of their Power Purchase Agreement (PPA) with the federal government.

The shareholders have authorized the management to execute a Negotiated Settlement Agreement in this respect.

Major terms of the Negotiated Settlement Agreement are as follows:

1. To terminate the Agreements, which were scheduled to expire in 2032, with effect from October 01, 2024.
2. Receivables agreed between the parties as on September 30, 2024, will be paid by Central Power Purchase Agency (Guarantee) Limited (“CPPA”) by December 31, 2024.
3. RPPL shall hand over the Complex to the Government by December 31, 2024.

Under the terms offered recently, RPPL will be paid its receivables by the off-taker, CPPA, and its Complex will be handed over to the Government as per the terms of the PPA.