Saif Power receives outstanding payment from CPPA
MG News | April 03, 2025 at 03:18 PM GMT+05:00
April 03, 2025 (MLN): Saif Power Limited (PSX: SPWL) has stated that the Central Power Purchasing Agency (CPPA) has made payment of outstanding receivables to the company as agreed in the Amendment Agreement.
This follows the company's earlier announcement on December 6, 2024, regarding the Amendment Agreement executed with the Government of Pakistan and CPPA (Guarantee) Limited.
The aforementioned information was disseminated through a notification to Exchange.
SPWL was incorporated in Pakistan on November 11, 2004 as a public limited company under the repealed Companies Ordinance, 1984 (which has now been replaced by the Companies Act, 2017) and commenced operations from April 30, 2010.
The principal activities of the Company are to own, operate and maintain a combined cycle power plant having nameplate capacity of 225 MW (ISO) and sell the electricity to Central Power Purchasing Agency Guarantee Limited (CPPA-G).
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