Company News

The settlement of the Company’s invoices

Al Batinah Power Company SAOG (the “Company”) advises the Capital Market Authority, the Muscat Security Market and the investor’s community as follows:

The Company has received a letter dated on 17 May 2020 from Oman Power and Water Procurement Company SAOC (“OPWP”) communicating a hold back of the investment charge (out of the power capacity charges) from April 2020 over and above the holding back of the fuel charge payment. OPWP has committed, as far as the liquidity situation allows, to pay at least the fixed operation and maintenance charge (out of the power capacity charge) and the electricity energy charge under the Power Purchase Agreement.

The Company is investigating the impact of the hold back of the investment charge on its business and will share additional details in the coming period.”