After successful negotiation with Furnance Oil and Solar based Power Companies, bagasse-based IPPs have also agreed to revise down their tariffs in line with the Government’s demand. In this regard, amended power purchase agreements with the government will be signed.

As per the details, eight bagasse-based IPPs are expected to sign an amended deal of lower power tariff with the government after approval from the federal cabinet and respective Board of Directors of these Companies.

Last week, Solar-based IPPs reached a final agreement with the government for signing of agreement to reduce power tariffs. Previously, the government had reached a consensus with solar power producers in August 2020.

Government is currently in negotiation with IPPs overpayment of their outstanding dues and signing of the revised PPAs.

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