Altern Energy Limited (AEL), the parent company of Rousch (Pakistan) Power Limited (RPPL), has inked a Termination Agreement (TA) with the Government of Pakistan (GoP) and the Central Power Purchasing Agency (Guarantee) Limited (CPPA-G).
The listed company, in its notice to the Pakistan Stock Exchange (PSX) on Monday, said that pursuant to the TA, the following instruments stand terminated, i.e. Implementation Agreement (IA) executed with the GoP, the guarantee issued by the GoP and the Power Purchase Agreement (PPA) executed with CPPA-G.
Last year, AEL submitted a request to the CPPA-G for early termination of the PPA. The decision was taken amid continued “operational losses suffered by the company as a result of no dispatch demand from the off-taker during the past several years”.
Moreover, AEL also signed a TA dated April 30, 2026, with Sui Northern Gas Pipelines Limited (SNGPL). “Pursuant thereto, the gas supply agreement, executed between AEL and SNGPL, stands terminated,” read the notice.
Altern Energy Limited was incorporated in Pakistan as a listed public company limited by shares under the Companies Ordinance, 1984, now the Companies Act, 2017.
The principal activity of the company is to build, own, operate and maintain a gas-fired power plant. The company also holds direct and indirect investments in other companies engaged in the power sector.
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