$2.4 Billion Deal Signed for New 1124MW Power Project Under CPEC - Android

The government of Azad Jammu and Kashmir (AJK) has signed an agreement with China Three Gorges Corporation and Private Power… Read More

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The government of Azad Jammu and Kashmir (AJK) has signed an agreement with China Three Gorges Corporation and Private Power and Infrastructure Board (PPIB) for the development of Kohala hydroelectric power project.

The 1,124-megawatt power project will be developed in AJK under the umbrella of the China-Pakistan Economic Corridor (CPEC) framework.

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The project is estimated to produce more than five billion units of clean and low-cost electricity every year. With a $2.4 billion initial investment, this is one of the largest investments in an independent power producer (IPP) in Pakistan as well as in AJK.

Another hydropower project – the 102MW Gulpur project – at Poonch River in Kotli district has been operational since March this year.

Power Minister, Omar Ayub Khan, while chairing the 127th meeting of PPIB, lauded the board’s role in enhancing hydroelectric power generation.

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He said that the government is looking for long-term energy sustainability and reliability for which renewable energy, hydroelectric power, and indigenous coal-based projects are being prioritized.

During the meeting, PPIB managing director (MD), Shah Jahan Mirza, briefed the board on the status of upcoming IPPs, saying that various projects might miss the deadline due to the coronavirus restrictions.

The board also extended the validity of the Letter of Support/ financial close date for the 1,124MW Kohala hydroelectric power project.

The board allowed extension in the Thar coal-based power projects due to the global pandemic.

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