Latest news with #KAPCO
Business Recorder
5 days ago
- 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
Business Recorder
6 days ago
- Business
- Business Recorder
KAPCO signs tripartite power agreement
The Kot Addu Power Company Limited (KAPCO) has 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. KAPCO shared this development in a notice to the Pakistan Stock Exchange (PSX) on Wednesday. Last month, the National Electric Power Regulatory Authority (NEPRA) approved a tripartite agreement between CPPA-G, KAPCO 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
7 days ago
- Business
- Business Recorder
Fauji Foundation, KAPCO eye majority stake in ACPL
Fauji Foundation and Kot Addu Power Company Limited (KAPCO) have formally expressed their intention to jointly acquire a majority shareholding and joint control of Attock Cement Pakistan Limited (ACPL). KAPCO disclosed the development in a notice to the Pakistan Stock Exchange (PSX) on Tuesday. 'The Board of Directors of KAPCO has approved the acquisition of shares and joint control of Attock Cement Pakistan Limited (ACPL) by the company and Fauji Foundation (FF) under the Securities Act, 2015 (the Act) and Listed Companies Regulations, 2017,' read the notice. It added that the acquisition is subject to the completion of necessary corporate and regulatory formalities. The company has appointed Integrated Equities Limited as Manager to the Offer (MTO) and sanctioned the commencement of due diligence and negotiation of acquisition terms. As per the public announcement of intention (PAI) submitted to the bourse, the acquirers intend to purchase 84.06% shareholding (Fauji Foundation 42.03%, KAPCO 42.03%) of APCL. The development comes as Pharaon Investment Group Ltd., a Lebanon-based company, is exploring a strategic sale of its stake in Attock Cement Pakistan Ltd. (ACPL). The potential sale has attracted initial interest from several major players in the cement and energy sectors, including Cherat Cement, Bestway Group, KAPCO and Fauji Cement, reported Bloomberg, citing people familiar with the matter Earlier, Pharaon Investment Group informed its stakeholders that certain prospective investors had expressed interest in acquiring its shareholding in ACPL and also indicated their intention to submit binding offers. PIGL shared that Standard Chartered Bank has been appointed as a financial advisor for the divestment process. Attock Cement Pakistan Ltd was incorporated in Pakistan on October 14, 1981, as a public limited company. The company is a subsidiary of Pharaon Investment Group Limited Holding S.A.L, Lebanon. Its main business activity is the manufacturing and sale of cement.
Business Recorder
7 days ago
- Business
- Business Recorder
Fauji Foundation, KAPCO eye majority stake in Attock Cement
Fauji Foundation and Kot Addu Power Company Limited (KAPCO) have formally expressed their intention to jointly acquire a majority shareholding and joint control of Attock Cement Pakistan Limited (ACPL). KAPCO disclosed the development in a notice to the Pakistan Stock Exchange (PSX) on Tuesday. 'The Board of Directors of KAPCO has approved the acquisition of shares and joint control of Attock Cement Pakistan Limited (ACPL) by the company and Fauji Foundation (FF) under the Securities Act, 2015 (the Act) and Listed Companies Regulations, 2017,' read the notice. It added that the acquisition is subject to the completion of necessary corporate and regulatory formalities. The company has appointed Integrated Equities Limited as Manager to the Offer (MTO) and sanctioned the commencement of due diligence and negotiation of acquisition terms. As per the public announcement of intention (PAI) submitted to the bourse, the acquirers intend to purchase 84.06% shareholding (Fauji Foundation 42.03%, KAPCO 42.03%) of APCL. The development comes as Pharaon Investment Group Ltd., a Lebanon-based company, explores a strategic sale of its stake in Attock Cement Pakistan Ltd. (ACPL), concerning its investment in the Pakistani cement business. The sale has attracted initial interest from several major players in the cement and energy sectors, including Cherat Cement, Bestway Group, KAPCO and Fauji Cement, reported Bloomberg, citing people familiar with the matter Earlier, Pharaon Investment Group informed its stakeholders that certain prospective investors had expressed interest in acquiring its shareholding in ACPL and also indicated their intention to submit binding offers. PIGL shared that Standard Chartered Bank has been appointed as a financial advisor for the divestment process. Attock Cement Pakistan Ltd was incorporated in Pakistan on October 14, 1981, as a public limited company. The company is a subsidiary of Pharaon Investment Group Limited Holding S.A.L, Lebanon. Its main business activity is the manufacturing and sale of cement.
Business Recorder
20-05-2025
- Business
- Business Recorder
NEPRA approves KAPCO's tripartite power agreement
The National Electric Power Regulatory Authority (NEPRA) has approved a tripartite agreement between Central Power Purchasing Agency (Guarantee) Limited (CPPA-G), Kot Addu Power Company Limited (KAPCO) and National Grid Company of Pakistan Limited that will govern electricity sales from KAPCO's power plant. KAPCO disclosed the development in a notice to the Pakistan Stock Exchange (PSX) on Tuesday. 'We are pleased to advise that the NEPRA vide letter dated May 19, 2025 addressed to the Central Power Purchasing Agency (Guarantee) Limited (CPPA-G) has granted approval of the TriPartite Power Purchase Agreement (TPPA) between the CPPA-G, KAPCO and National Grid Company of Pakistan Limited along with the schedules,' read the notice. However, before the TPPA can officially become effective, certain conditions set by NEPRA must be met, the listed company said. 'The directions of NEPRA as stipulated in its letter dated May 19, 2025 are to be complied with for signing of the TPPA, which, inter alia, include the conduct of Initial Capacity Test (ICT) and the Heat Rate Test (HRT) for bench marking efficiency and an independent engineer is to evaluate and determine Simple Cycle Efficiency/Heat Rate numbers which are to be submitted before NEPRA along with ICT and HRT Reports.' Once these requirements are met, the TPPA will become effective for the operational phase of the power plant, KAPCO said. Last month, NEPRA granted a provisional tariff to KAPCO on a Take-or-Pay basis after a hectic debate at a public hearing on April 8, 2025. 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).
