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Asia Today ISSN 1861-4604 Monday, January 22, 2018

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Pakistan to set up $1.51 billion hydropower project in PoK

Timeline of 6 years

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ISLAMABAD, Pakistan - Pakistan has unveiled plans for its massive $1.5 billion hydropower project, with a timeline of six years.

The country announced that the project would be set up on the banks of river Jhelum in Pakistan-occupied Kashmir (PoK).

As per the government’s plans, the project named the Azad Pattan Hydropower Project is expected to be complete by 2022 with the help of foreign funds.

According to the documents with Pakistan’s central power board National Electric Power Regulatory Authority (NEPRA), the project is part of the Pakistan government’s initiative undertaken under the Policy for Power Generation 2002. 

The document at NEPRA noted, “Hydropower contributes about 16 percent of global electricity and Pakistan has 28 percent hydropower in its energy mix. The declining trend in hydropower over the years has been caused by rapidly growing thermal capacity compared with hydropower growth and hydropower, which now accounts for only 28 percent of the total installed capacity of Pakistan.”

Reports noted that authorities have sought an import tariff of Rs 8.05 per kilowatts, but the Central Power Purchasing Agency (CPPA-G) proposed a tariff of Rs 8.50 per unit (kWh) under the NEPRA Import of Power Regulations 2017.

According to local reports, the project will be 75 percent debt, mostly foreign debt, and 25 percent equity. 

The document further revealed that the debt repayment period is set as 18 years, including a six-year grace period. 

 

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