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).
