Attock Gen Limited (AGL)

What Attock Gen Limited (AGL) does

Attock Gen Limited (AGL) is a Pakistan-based Independent Power Producer (IPP) and the first power-sector venture of the Attock Group of Companies. It was incorporated in 2007 and is the first IPP commissioned under the Government of Pakistan's 2002 Policy for Power Generation Projects. The company operates a single 165 MW gross capacity (156.181 MW net dependable) combined cycle power plant located in Morgah, Rawalpindi.

The plant is built on a combined cycle configuration of nine Wartsila W18V46 reciprocating furnace-oil-fired engine generator sets (each 16.5 MW) and nine heat recovery steam generators feeding one 11.6 MW condensing steam turbine. Fuel is indigenous Residual Fuel Oil (RFO) extracted from crude processed at the Attock Refinery in Rawalpindi and supplied under a dedicated Fuel Supply Agreement with Attock Petroleum Limited (APL). The technology stack is conventional heavy-fuel reciprocating engine power generation, with no AI/digital overlay referenced in available materials.

The business model is a regulated, contracted utility revenue stream: AGL sells the full output of the plant exclusively to the Central Power Purchasing Agency (CPPAG, novated from NTDC) under a 25-year Power Purchase Agreement signed 1 September 2007, with backing by a Government of Pakistan Guarantee dated 25 September 2007. The single customer is a government-backed offtaker, the GTM motion is enterprise-level contractual rather than market-based, and pricing is set by the PPA rather than market discovery. AGL is privately held under the Attock Group, with The Attock Oil Company and Attock Refinery Limited as the two principal sponsors.

Name

Attock Gen Limited (AGL)

Legal name

Attock Gen Limited

Website

https://agl.com.pk

Company type

Private

Founded year

2007

Operating status

Operating

Headcount range

11–50 employees

Short description

Attock Gen Limited (AGL) operates a 165 MW combined cycle Independent Power Plant in Morgah, Rawalpindi, Pakistan, selling electricity exclusively to the Central Power Purchasing Agency (CPPAG) under a 25-year government-backed Power Purchase Agreement.

Ownership category

akta.pro rank

Product category

Independent Power Generation

NAICS

Fossil Fuel Electric Power Generation (221112), Electric Power Generation (22111)

SIC

Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

Heavy Fuel Oil (HFO) / Bunker-Fueled Power Generation (EUACACAC)

akta.pro secondary industry

Utility-Scale Oil-Fired Steam Power Plants (Residual/Fuel Oil) (EUACACAA)

Keywords

• Independent power production
• Combined cycle generation
• Utility scale electricity
• Furnace oil power
• Power purchase agreements

Headquarters

HQ city

Rawalpindi

HQ country

Pakistan

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Supply Chain, Operations, Personnel, Infrastructure, Technology or R&D

Revenue model

1. Electricity Sales under PPA: AGL generates revenue by selling electricity produced at its 165MW combined cycle power plant to CPPAG (Central Power Purchasing Agency) under a 25-year Power Purchase Agreement. The agreement was signed on 1 September 2007 and financial closing occurred on 25 September 2007. Revenue is generated continuously as electricity is dispatched to the national grid, making it a contracted, long-term utility revenue stream. The PPA term of 25 years provides stable, predictable cash flows over the contract duration.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Attock Gen Limited generates and supplies electricity from a 165 MW combined cycle power plant at Morgah, Rawalpindi, Pakistan, using 9 Wartsila W18V46 reciprocating furnace oil fired engine generator sets and 9 HRSGs feeding one 11.6 MW condensing steam turbine. Its entire output (156.181 MW net dependable capacity) is sold to CPPAG under a 25-year Power Purchase Agreement signed on 1 September 2007. Fuel is indigenous Residual Fuel Oil supplied by Attock Petroleum Limited.

Product overview

Attock Gen Limited (AGL) operates a single unified power generation product — a 165MW gross capacity independent power plant in Morgah, Rawalpindi, Pakistan. The plant employs a combined cycle configuration combining 9 Wartsila W18V46 diesel/furnace oil fired engine generator sets with heat recovery steam generators and a condensing steam turbine. The facility generates electricity from indigenous RFO (Residual Fuel Oil) sourced from Attock Refinery, with power sold to CPPAG under a 25-year Power Purchase Agreement.

Differentiator

Problem solved

Functional benefit

Products and services

• AGL 165 MW Combined Cycle Power Plant (Morgah, Rawalpindi) Utility-scale independent power generation facility of 165 MW gross capacity in combined cycle mode, comprising 9 Wartsila W18V46 reciprocating furnace oil fired engine generator sets (16.5 MW each) and 9 HRSGs feeding one 11.6 MW condensing steam turbine. All electricity output is supplied to CPPAG under a 25-year Power Purchase Agreement signed 1 September 2007. The plant uses indigenous RFO fuel supplied by Attock Petroleum Limited.

Quantifiable outcome

• 165 MW gross capacity / 156.181 MW net dependable capacity contributed to Pakistan's national grid
• +1 more outcomes

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Four partnerships are on record, tiered core.

• CPPAG (Central Power Purchasing Agency Guarantee) / NTDCcoreStrategic or Co-development Partner · 1 September 2007CPPAG, novated from NTDC (National Transmission and Despatch Company), is the sole power purchaser of AGL's entire electricity output under a 25-year Power Purchase Agreement signed on 1 September 2007. This is the primary revenue-generating partnership for AGL and represents the core commercial relationship underpinning the entire business.
• Attock Petroleum Limited (APL)coreTechnology or Integration · 5 June 2007Attock Petroleum Limited (APL) is the exclusive fuel supplier to AGL's power plant under a Fuel Supply Agreement signed on 5 June 2007. APL supplies Residual Fuel Oil (RFO) which is extracted from indigenous crude oil processed at the Attock Refinery in Rawalpindi. This supply chain integration is a core operational partnership.
• WartsilacoreTechnology or IntegrationWartsila supplied the core power generation technology for AGL's plant — specifically 09 Wartsila W18V46 Gensets (16.5 MW each) configured in a combined cycle arrangement with 9 Heat Recovery Steam Generators (HRSG) and 01 Steam Turbine Generator (STG). Wartsila is referenced as a key technology partner on AGL's project details page with a direct link to Wartsila's energy references page.
• Government of Pakistan (GOP)coreStrategic or Co-development PartnerThe Government of Pakistan provided a Guarantee (GOP Guarantee dated 25 September 2007) in support of AGL's Power Purchase Agreement, substantially de-risking the investment. Additionally, the Implementation Agreement was signed with the GOP on 24 August 2007. AGL was commissioned under Pakistan's Policy for Power Generation Projects of 2002, making the GOP a foundational strategic partner.

Scale indicators3 records

Recent moves6 records

Expansion highlights3 records

Others

• Wartsila Energy: Wartsila is AGL's core technology provider and a global supplier of engine-based power plants and energy storage. It is comparable not as a direct IPP competitor in Pakistan but as a strategic OEM partner whose technology stack underpins AGL's plant.
• Attock Petroleum Limited: Attock Petroleum is AGL's exclusive fuel supplier under a Fuel Supply Agreement and a sister entity within the Attock Group. It is comparable as an ecosystem participant — not a direct IPP competitor — but a vertically integrated counterpart whose operations directly affect AGL's fuel economics.

Direct peers

• Altern Energy Limited: Altern Energy is a Pakistani IPP operating a combined-cycle gas-fired power plant selling electricity to the national grid under a long-term PPA. It is comparable to AGL as a privately held Pakistani IPP with contracted government offtake, though with gas rather than furnace-oil fuel.
• Pakgen Power Limited: Pakgen Power operates a furnace-oil IPP in Pakistan selling power to NTDC/CPPAG under a long-term PPA. It is directly comparable to AGL in fuel technology, offtake structure, and project scale, and is part of the same broader IPP cohort.
• Lalpir Power Limited: Lalpir Power operates a furnace-oil-fired IPP in Pakistan under a long-term PPA with the national grid. It shares AGL's oil-fired generation technology, government off-taker structure, and single-site business model, making it a close comparable.
• Hub Power Company (HUBC): HUBC is Pakistan's largest Independent Power Producer operating multiple fossil-fuel plants under long-term PPAs with CPPAG/NTDC. It is the most direct peer to AGL given the identical IPP business model, government-backed offtaker, and contracted revenue structure, but at materially larger scale.
• Kot Addu Power Company (KAPCO): KAPCO operates a large multi-fuel IPP in Pakistan selling electricity to the national grid under a long-term PPA. It is directly comparable to AGL as a Pakistani IPP with government-backed offtake and a fossil-fuel generation portfolio.
• Kohinoor Energy Limited: Kohinoor Energy operates a furnace-oil-based IPP in Pakistan under a long-term PPA with the national grid. It shares AGL's fuel technology (RFO) and the same IPP business model with a single government counterparty.
• Engro Powergen Qadirpur Limited: Engro Powergen operates a gas-fired IPP in Pakistan under a long-term PPA with the national grid. It is comparable to AGL as a privately held single-asset IPP with government-backed contracted revenues, though utilizing gas rather than RFO technology.

Broad incumbents

• NTPC Limited (India): NTPC is one of South Asia's largest state-owned power generators operating a diversified fossil-fuel and renewable portfolio. It is comparable as a regional broad incumbent in utility-scale power generation, though at far larger scale and with multi-asset diversification versus AGL's single site.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks1 record

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/attock-gen-limited

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Attock Gen Limited (AGL)