Early pact termination sparks IPPs’ board meetings
As the government gears up to terminate key agreements prematurely this month, several independent power producers (IPPs) have called emergency meetings to review the development. In a stock filing on Wednesday, Hub Power Company Limited (Hubco) announced that its board of directors will hold an urgent meeting on Thursday (today). The board will review the terms for the early termination of the company’s implementation agreement, power purchase agreement, fuel supply agreement, and the associated guarantee. These agreements were initially set to expire in March 2027. The discussions have involved the government’s task force, created under the Prime Minister’s Office, and several IPPs, including Hubco.