Date: 18 May 2020
Oman Power and Water Procurement Company SAOC and the settlement of Company's invoices
Al Suwadi Power Company SAOG (the “Company”) advises the Capital Market Authority, the Muscat Securities Market and the investors’ community as follows:
The Company has received a letter yesterday (17th May 2020) from Oman Power and Water Procurement Company SAOC (OPWP) communicating a hold back of the Power Capacity Investment Charge 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 Power Capacity Fixed Operation and Maintenance Charge, Electricity Energy Charge under the Power Purchase Agreement.
The Company is investigating the impact of the hold back of the Power Capacity Investment Charge on its business and will share additional details in the coming period.”