KAPCO eyes majority stake in Tenaga Generasi Limited

MG News | January 16, 2024 at 09:30 AM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

January 16, 2024 (MLN): The management of Kot Addu Power Company Limited (PSX: KAPCO) has placed a bid to acquire an equity stake in Tenaga Generasi Limited, which owns a 49.5 MW wind power project located in Sindh, Pakistan, the company's filing on PSX showed today.

The bid would, if successful result in Kot Addu Power Company Limited ("KAPCO") owning a majority stake in the company, the notice reads.

Discussions are at the preliminary stage and any potential transaction would be subject to, among others, the execution of definitive documents, regulatory approvals and internal approvals including KAPCO shareholders' approval.

The principal activities of KAPCO 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, District Muzaffargarh, Punjab, Pakistan.

It also sells the electricity produced therefrom to a single customer, the Pakistan Water and Power Development Authority (WAPDA) under a Power Purchase Agreement (PPA).

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	165,596.07 264.75M	-0.54% -902.76
ALLSHR	100,017.71 623.24M	-0.46% -463.69
KSE30	49,464.92 86.97M	-0.60% -299.08
KMI30	238,952.40 97.00M	-0.58% -1388.16
KMIALLSHR	65,314.16 323.73M	-0.44% -285.47
BKTi	44,788.98 46.84M	-0.77% -347.65
OGTi	35,107.09 7.04M	-0.41% -145.22

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	79,165.00	0.00 0.00	-45.00 -0.06%
BRENT CRUDE	109.47	109.75 106.26	3.75 3.55%
RICHARDS BAY COAL MONTHLY	110.00	0.00 0.00	-2.95 -2.61%
ROTTERDAM COAL MONTHLY	109.00	109.00 108.75	1.25 1.16%
USD RBD PALM OLEIN	1,191.50	1,191.50 1,191.50	0.00 0.00%
CRUDE OIL - WTI	101.16	0.00 0.00	0.14 0.14%
SUGAR #11 WORLD	14.78	15.07 14.67	-0.21 -1.40%