Karachi: Altern Energy Limited has announced significant developments regarding its subsidiary, Rausch (Pakistan) Power Limited (RPPL), as detailed in the company's latest disclosure. This information is part of a continued disclosure process that follows earlier communications on October 21, 2024, and November 12, 2024. The disclosure is made in compliance with Section 96 and Section 131 of the Securities Act, 2015, and Clause 5.6.1 of the Pakistan Stock Exchange (PSX) Regulations.

RPPL has terminated its Power Purchase Agreement (PPA) with the Central Power Purchasing Agency (Guarantee) Limited (CPPA). This termination is in accordance with the terms of a Negotiated Settlement Agreement (NSA), which also includes the cessation of the Implementation Agreement with the President of the Islamic Republic of Pakistan, acting on behalf of the government, and the termination of the guarantee issued by the government.

According to information available from the Pakistan Stock Exchange (PSX), the negotiated terms have been fully satisfied, with RPPL receiving all agreed payments from CPPA. Subsequently, RPPL has transferred control of the complex to the Government of Pakistan's designated entity, the National Power Parks Management Company Limited, as of December 31, 2024.

This development is part of Altern Energy Limited's ongoing efforts to provide transparency and keep stakeholders informed about significant changes affecting its operations and agreements. The company will continue to update the market as per the regulatory requirements.