Kohinoor Energy's board approves incorporation of subsidiary

MG News | May 09, 2024 at 03:20 PM GMT+05:00

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May 09, 2024 (MLN): The Board of Directors of Kohinoor Energy Limited (PSX: KOHE) has given its approval for the incorporation of a wholly-owned subsidiary Private Limited Company, subject to obtaining all applicable regulatory approvals.

The company disseminated this information through a notice issued to the Pakistan Stock Exchange (PSX) today.

It is crucial to note the principal activities of KOHE are to own, operate and maintain a power plant in Lahore and to sell the electricity produced therefrom to a sole customer, the Pakistan Water and Power Development Authority (WAPDA) under a Power Purchase Agreement (PPA).

Likewise, the subsidiary will also be primarily engaged in the business of PPA-based Solar Power Plants.

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