Pakistan, March 6 -- Narowal Energy Limited (NEL), a wholly owned subsidiary of the Hub Power Company Limited (HUBCO), has formally executed the Amendment Agreement reached with the government last month. The development was disclosed by HUBCO, Pakistan's largest Independent Power Producer (IPP), in its notice to the Pakistan Stock Exchange (PSX) on Wednesday.
Sharing salient terms and conditions, Hubco shared that the Amendment Agreement shall be effective from November 1, 2024.
The indexation mechanism of O&M has been changed, whereas tariff of cost of working capital and O&M have been revised, it added.
Under the new terms, the return on equity tariff component will be paid in a hybrid take and pay mode. Moreover, the insurance premiu...