Altern Energy seeks early termination of agreements with CPPA

MG News | March 25, 2025 at 09:59 AM GMT+05:00

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March 25, 2025 (MLN): The board of directors of Altern Energy Limited (PSX: ALTN) has considered and agreed to submit a request to the Central Power Purchasing Agency (Guarantee) Limited (CPPA) for early termination of certain agreements.

These include the Power Purchase Agreement (PPA) entered into with CPPA, the company's filing on PSX revealed today.

Additionally, the company seeks to terminate the Implementation Agreement (IA) entered into with the President of the Islamic Republic of Pakistan on behalf of the government of Pakistan.

The request also covers the termination of the Guarantee issued by the government of Pakistan (collectively referred to as the "Agreements").

This early termination is due to continued operational losses suffered by the company as a result of no dispatch demand from the off-taker during the past several years.

The board of directors has referred the proposal for early termination of the agreements to the shareholders of the company for consideration and approval in the shareholders' meeting.

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