ISLAMABAD: Amid stalemate with 47 IPPs over new working payment methods and resolution of the disputed issue of over Rs 553 billion in profits, Wind IPPs have told the government in no uncertain terms that they will abide by the agreement. Will not sign until it is stopped. Power outages have been ensured.
Some 47 IPPs signed an agreement on August 13, 2020 to sign power purchase amendment agreements in the six months ending February 12, 2021. Once the amended PPA is signed, the government will accumulate a profit of Rs 386 billion. Forms of discounted revenue of IPPs in next 10-12 years. However, Wind IPPs have refused to sign MoUs with banks, arguing that if the government wants them to sign MoUs, it will have to give them a written assurance that they will be nationalized. Power outages on the grid will never decrease.
“And if the government does not deplete the power of wind IPPs at a time when wind turbines are generating electricity in the presence of wind, then they will have to pay the full tariff. Otherwise, IPPs PES will not sign the agreement, “a senior development official told The News.” 47 IPPs have signed the agreement. The government is currently affiliated with six renewable IPPs, including TNB Liberty, UCH Power, Zafir Power Wind, China Three Gorges, Larib Energy and Star Hydro Patrons are included.
More importantly, three projects involving hydropower plants, including Bong, Petrand and Gulpur, are still refusing to sign the MoU and until six renewable and three hydropower projects 47 IP Until then, there will be no significant success in making a profit of Rs. 6836. Tariff rebates for the remainder of their contracts. Under the new working payment system, the government wants to clear the liabilities of IPPs of Rs 452 billion a year, including one at the time of signing the revised PPA and two other installments in the form of Pakistan Investment. The third is to clear Rs 452 billion in liabilities in a year with cash payments. Bonds (PIBs) or tradable bonds within a year. IPPs are not willing to rely on the government for the payment of their dues. They want to pay in full. However, sources claim that if the next payment is 50% in cash, the IPPs will agree to a new working payment method, but in that case the IPPs will support the payment with some ‘reliable guarantee’. Will find the method.
However, the most troubling issue mentioned in the Muhammad Ali report is the ‘extra profit’ by the six IPPs. If some IPPs have tried to make ‘extra profit’, the government wants to send the matter to NEPRA permanently. The IPPs have also filed a case in the Islamabad High Court on the issue of excess profits and the government wants them to withdraw the case. The question now is whether the government, knowing that the case is in the court of law, would risk shifting to NEPRA for higher profit. IPPs claim that the power plants installed under the Power Policy 2002 have the same power purchase agreement (PPA) and the same rates as per the PPA. How can some pocket money be more profitable and others not? The six IPPs also argued that in the event of such a dispute, the solution is not with NEPRA, but with mediation under the PPA.