Lahore: Altern Energy Limited has announced its intention to seek an early termination of critical agreements with the Central Power Purchasing Agency (Guarantee) Limited (CPPA) due to sustained operational losses. The decision, aimed at addressing a lack of dispatch demand from the off-taker over several years, was made during a board meeting held on March 24, 2025.

As per disclosure, which aligns with Section 96 and Section 131 of the Securities Act, 2015, and Clause 5.6.1 of the PSX Regulations, the Board of Directors of Altern Energy Limited has resolved to request the termination of the Power Purchase Agreement (PPA), the Implementation Agreement (IA) with the President of the Islamic Republic of Pakistan on behalf of the government, and the Guarantee issued by the government. These agreements collectively form the backbone of the company's operational framework in the power sector.

The company's board has decided to present the proposal for early termination of these agreements to its shareholders for consideration and approval at an upcoming Shareholders' Meeting. This step signifies a critical juncture for Altern Energy Limited, which has been grappling with financial challenges due to the absence of dispatch demand from its off-taker.

According to information available from the Pakistan Stock Exchange (PSX), the proposal is a significant move for Altern Energy Limited, a company registered at Descon Headquarters, 18-km, Ferozepur Road, Lahore. The company's registered contact, Mr. Salman Ali, who serves as the Company Secretary, can be reached at +92 42 35990034 for further inquiries.

The company's decision underscores the financial difficulties faced by energy producers operating under contractual obligations with government entities. The outcome of the shareholders' decision on this proposal will be pivotal for Altern Energy Limited's future in the energy market.