Four hydro power projects to attract $7.7bn investment

Four hydro power projects to attract $7.7bn investment


Islamabad: The four Haider power projects under the second phase of the China-Pakistan Economic Corridor (CPEC) will be completed in the next six years at a cost of US$7.7 billion, contributing 3,428 megawatts of clean energy and cheap energy to the national grid.

Official in the CPEC authority said on Monday that in order to fulfill the electricity requirements and to produce atmosphere friendly clean and green energy, numerous hydel power projects with installed capacity of 3,428 MW are being completed under the second phase.

The projects would help generating thousands of new jobs besides providing affordable clean electricity to the consumers.

The nine coal-based energy projects completed in the first phase contributed 5,320 megawatts to the national grid, which helped to overcome the country’s load shedding problem to a large extent.

Officials from the CPEC Authority informed that the 720 MW Karot hydropower project is in the final stage and is likely to be completed this year at a cost of 700 million US dollars.

The project will provide 5 million people with clean energy and create 4,500 jobs.

Similarly another CPEC-Sukki-Kenari Hydro Power Project would also start contributing 884 MW of clean electricity to the national grid by next year, the officials told APP adding that the total cost of this project is $2 billion.

Similarly work on the $1.5 billon Azad Pattan Hydro Power Project is underway and this 700 MW power project would be completed in 2026.

The 1124 MW Kohala Hydro Power Project would be completed by 2027 at an estimated cost of $2.5 billion, the official said adding that the CPEC is helping Pakistan in overcoming the power shortage and reducing reliance on the imported fuel.

Located in Azad Jamuu and Kashmir, the Kohala Hydro Power Project would create some 5000 job opportunities. The official added that the foreign investment of $2.4 billion would be the highest in the country by the Independent Power Producers (IPPs).

The official added that the project will produce 5 billion clean and green power installations for consumers in Pakistan, Azad Chamu and Kashmir.

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