Kot Addu Power Company Limited (PSX: KAPCO) has placed a bid to acquire an equity stake in Tenaga Generasi Limited, which owns a 49.5 MW wind power project located in Sindh, the company informed the Pakistan Stock Exchange on Tuesday.
“The bid would, if successful result in Kot Addu Power Company Limited (KAPCO) owning a majority stake in the Company,” the stock filing stated.
“Discussions are at the preliminary stage and any potential transaction would be subject to, among others, execution of definitive documents, regulatory approvals and internal approvals including KAPCO shareholders’ approval,” it added.
Before KAPCO’s bid, Dawood Lawrencepur Limited (PSX: DLL) in November 2023 announced that it would divest its equity stake in Tenaga Generasi Limited.
KACPO’s principal activities are to own, operate, and maintain a multi-fuel-fired power station with fifteen generating units with a nameplate capacity of 1,600 MW in Kot Addu, District Muzaffargarh, Punjab, Pakistan, and to sell the electricity produced therefrom to a single customer, Pakistan Water and Power Development Authority (WAPDA) under a Power Purchase Agreement (PPA).
Editorial & Legal Practice Group
Authored and reviewed by the corporate law and tax litigation practice group at Javid Law Associates. Our team comprises High Court advocates, corporate legal advisors, and authorized tax practitioners across Pakistan.
Advocates High Court & Tax Counsel
Jurisdiction: Pakistan