AGL 38.31 Decreased By ▼ -0.52 (-1.34%)
AIRLINK 141.40 Decreased By ▼ -2.00 (-1.39%)
BOP 5.64 Increased By ▲ 0.40 (7.63%)
CNERGY 3.87 Increased By ▲ 0.15 (4.03%)
DCL 7.56 Decreased By ▼ -0.02 (-0.26%)
DFML 47.40 Increased By ▲ 1.00 (2.16%)
DGKC 79.75 Decreased By ▼ -1.13 (-1.4%)
FCCL 27.44 Increased By ▲ 0.02 (0.07%)
FFBL 54.85 Decreased By ▼ -0.15 (-0.27%)
FFL 8.60 Increased By ▲ 0.04 (0.47%)
HUBC 113.51 Increased By ▲ 2.49 (2.24%)
HUMNL 11.20 Decreased By ▼ -0.22 (-1.93%)
KEL 3.99 Increased By ▲ 0.22 (5.84%)
KOSM 8.54 Increased By ▲ 0.21 (2.52%)
MLCF 35.00 Decreased By ▼ -0.20 (-0.57%)
NBP 63.80 Increased By ▲ 2.45 (3.99%)
OGDC 169.40 Decreased By ▼ -2.50 (-1.45%)
PAEL 25.18 Decreased By ▼ -0.60 (-2.33%)
PIBTL 5.89 Decreased By ▼ -0.08 (-1.34%)
PPL 125.75 Decreased By ▼ -1.80 (-1.41%)
PRL 24.79 Decreased By ▼ -0.79 (-3.09%)
PTC 13.26 Increased By ▲ 1.11 (9.14%)
SEARL 57.45 Increased By ▲ 0.45 (0.79%)
TELE 7.12 Increased By ▲ 0.02 (0.28%)
TOMCL 35.00 Increased By ▲ 0.20 (0.57%)
TPLP 7.45 Increased By ▲ 0.50 (7.19%)
TREET 14.32 Increased By ▲ 0.47 (3.39%)
TRG 46.54 Decreased By ▼ -0.51 (-1.08%)
UNITY 26.18 Increased By ▲ 0.13 (0.5%)
WTL 1.20 Decreased By ▼ -0.01 (-0.83%)
BR100 9,091 Decreased By -2.4 (-0.03%)
BR30 27,347 Increased By 28.9 (0.11%)
KSE100 85,669 Increased By 5.3 (0.01%)
KSE30 27,216 Decreased By -224.9 (-0.82%)

ISLAMABAD: The Ministry of Planning, Development and Special Initiatives (MoPD&SI) has warned the government that any delay in evacuation of power from $2 billion 884-MW Suki Kinari hydel project being established under CPEC will attract Liquidity Damages (LDs), well informed sources told Business Recorder.

Secretary Planning, Development and Special Initiatives Awais Manzur Sumra sent this unambiguous message to Secretary Power Division.

Power Division has been informed that 884-MW Suki Kinari Hydropower project is one of the biggest investment power projects under CPEC at a cost of $ 2 billion invested by, M/s China Energy Intl Group and M/s China Gezhouba Engineering Croup Company. The Company has successfully completed 92% of construction work. The power plant is expected to be ready by or ahead of Required Commercial Operation Date (RCOD) November 24, 2024 provided in the Power Purchase Agreement (PPA).

CPEC hydropower project achieves hoisting of last rotor in Mansehra

According to Secretary Planning, Development and Special Initiatives, it appears that the Company has some concerns regarding the timely completion and availability of power evacuation line for testing and commercial operations of electricity supply. As per the Power Purchase Agreement the line must be ready 240 days ahead of Scheduled RCOS of the plant which means that the line must be ready by or before April 4, 2024.

He further stated that in case of any delay, it will lead towards payment of Liquidity Damages (LDs) as per the signed PPA. Moreover, any deviation from concessions Commercial Operation Date (SCOD) guaranteed by the GoP under PPA, power generation policies and Implementation Agreements (IAs) may lead to cyclic disputes among all stakeholders.

Secretary Planning has requested Power Division to issue appropriate instructions to relevant quarters for ensuring the timeline as per the signed PPA.

The sources said, Central Power Purchasing Agency- Guaranteed (CPPA-G) has also written a fifth letter to National Transmission and Despatch Company (NTDC) requesting the latter to expedite the work on the power purchaser interconnection facilities to meet the deadline as prescribed in the Power Purchase Agreement, i.e., 240 days prior to the Scheduled Commercial Operation Date which is April 4,2024.

In January 2017, the project had achieved financial close of hydro IPP under the framework of China-Pakistan Economic Corridor (CPEC).

The documents had been signed by PPIB Managing Director Shah Jahan Mirza and Chief Executive of Suki Kinari Hydropower Project Haseeb Khan.

This is the first hydro power project in Khyber Pakhtunkhwa province being developed by the private sector and so far the largest hydro Independent Power Producer (IPP) in Pakistan.

Suki Kinari project is located on the River Kunhar, a tributary of River Jhelum, in district Mansehra, in the eastern part of Khyber Pakhtunkhwa between Naran and Paras towns.

M/s Al-Jomaih Holding Company, (LLC) (Saudi Arabia), China Gezhouba Group Company (China) and Haseeb Khan (Pvt) Ltd (Pakistan) are sponsors of the project.

Copyright Business Recorder, 2024

Comments

Comments are closed.

KU Jan 01, 2024 09:09am
The circus masters asking their performers to improve their old and established acts, and that too without any treats. Pathetic affairs on the first day of a new year.
thumb_up Recommended (0)