June 10, 2022 (MLN): The Board of Directors of Engro Powergen Qadirpur Limited (PSX: EPQL) has decided to accept the proposal of the Project Committee of Private Power & Infrastructure Board (PPIB) wherein the company will utilize RLNG as the comingling fuel with available Qadirpur permeate gas or HSD, the company’s filing on PSX showed on Friday.
The company accepted the proposal in relation to the Gas Depletion Mitigation Plan/Option (GDMP/GDMO) on the basis of the terms and conditions set out therein.
The proposal is further subject to the approval of the PPIB Board and the consent required under the Implementation Agreement.
The salient terms of the proposal include inter alia the following:
EPQL will utilize RLNG as the comingling fuel with available Qadirpur permeate gas or HSD, as the case may be.
The term of the GDMP/GDMO shall be for a period up to December 31, 2025.
There will be no provision of minimum dispatch or guaranteed off-take on any fuel in the PPA.
All CAPEX and other associated costs to be incurred in relation to the implementation of GDMO will be exclusively incurred by EPQL, with no liability or obligation of GOP, Power Purchaser or any other GOP entity under the respective project agreements.
EPQL will obtain approval of supplemental tariff with respect to fuel cost component from NEPRA for operating the plant on comingled RLNG.
The project agreements (IA, PPA, GSA) will be amended to the extent necessary to give effect to GDMP/GDMO.
