Tag: IPPS

Islamabad: In a significant move toward reforming Pakistan’s struggling power sector, the Federal Cabinet has approved the termination of existing Power Purchase Agreements (PPAs) with five Independent Power Producers (IPPs). The decision follows recommendations by the Task Force on Power Sector Reforms. According to a statement from the Prime Minister’s Office, the affected IPPs include HUBCO, Lalpir Power Limited, Saba…

KARACHI: With the government preparing to prematurely terminate key agreements this month, several independent power producers (IPPs) have called emergency board meetings to address the situation. Hub Power Company Limited (Hubco) announced in a stock filing on Wednesday that its board of directors would hold an urgent meeting on Thursday to review the early termination terms of its implementation, power…

ISLAMABAD: The federal government’s negotiations with several Independent Power Producers (IPPs) have started to yield results, with four IPPs—Atlas Power, Saba Power, Rousch Power, and Lalpir Power—agreeing to prematurely terminate their Power Purchase Agreements (PPAs). Hubco is expected to finalize a similar deal in the coming days, well-informed sources reported. The government’s Task Force on the Power Sector, consisting of…

ISLAMABAD: In ongoing discussions regarding the transition from the London Inter-bank Offered Rate (LIBOR) to the Secured Overnight Financing Rate (SOFR), Chinese lenders financing Independent Power Producers (IPPs) under the China-Pakistan Economic Corridor (CPEC) have agreed to adopt daily SOFR but rejected the Term SOFR option. During a suo motu hearing by the National Electric Power Regulatory Authority (NEPRA), it…

Power minister says govt negotiating new terms with independent power producers Federal Minister for Energy Awais Ahmed Khan Leghari has defended the independent power producers (IPPs), asserting that these private entities are not responsible for the rising cost of electricity in the country.“The IPP policy is not the cause of expensive electricity,” Leghari told Voice of America during an exclusive…

ISLAMABAD: Pakistan has decided to revive the stalled 1,124MW Kohala Hydropower Project (KHPP) after a three-year delay, following an agreement with Chinese stakeholders, as confirmed by sources within the Planning Commission. The project had been on hold due to China Export and Credit Insurance Corporation (Sinosure) withholding insurance coverage, citing unpaid dues of over Rs550 billion owed by Pakistani power…

ISLAMABAD: The Senate Standing Committee on Energy has directed the Power Division to submit original agreements with Independent Power Producers (IPPs) and a detailed comparative analysis of similar contracts in other countries. This follows a commitment made by the Power Division last week to share these agreements and provide a comprehensive briefing. The committee, chaired by Mohsin Aziz, is set…