ISLAMABAD: Altern Energy Limited has formally requested the Central Power Purchasing Agency (CPPA) to *terminate its Power Purchase Agreement (PPA) early, citing *sustained operational losses due to lack of dispatch demand in recent years.
In a statement to the *Pakistan Stock Exchange (PSX), the company’s *Board of Directors announced that it had also sought the termination of the Implementation Agreement (IA) signed with the *Government of Pakistan, as well as the *sovereign guarantee backing the contract.
The board has referred the early termination proposal to the company’s shareholders for approval in an upcoming shareholders’ meeting.
