Azad Pattan Power Private Limited (the “Company” or “APPL”) is the owner and developer of the 700.7 MW Azad Pattan hydroelectric power generating complex (the “Project” or “Azad Pattan HPP”) on River Jhelum located in district Sudhnoti, Azad Jammu and Kashmir (“AJ&K”).

The Project is being developed under the Government of Pakistan Policy for Power Generation Projects 2002 on Build-Own-Operate-Transfer (BOOT) basis, whereby the Project would be transferred to the Government, free of cost, at the end of a 30-year concession term.

The Azad Pattan HPP, part of China Pakistan Economic Corridor (“CPEC”), is one of the cascade hydropower projects planned by the Government of Pakistan on River Jhelum comprising (from upstream to downstream) Chakoti Hattian, Kohala, Mahl, Azad Pattan and Karot. Once commissioned, the Project will generate about 3.265 billion kWh of clean energy every year.

The Letter of Support (LOS) issued by Private Power Infrastructure Board (PPIB), allowing the Company to move towards financial closing and construction start has a current validity to achieve financial closing on or before 31 December 2024. With a sixty-nine (69) month construction period, the Project will commence commercial operations towards the end of 2030 when it starts pumping green renewable energy into the national grid.