World Bank to provide $1.15bn for two power projects in KP

World Bank power KP

On Thursday, Pakistan and the World Bank signed two agreements related to renewable energy and hydro power projects in KP province worth 1.15 billion dollars.

The agreement signed for the projects in Khyber Pakhtunkhwa includes the $450 million ‘KP Hydropower & Renewable Energy Development Project’ and the $700 million ‘Evacuation of Power from DASU Hydropower Project (Phase-I)’.

Read more: ‘Khyber Pakhtunkhwa to utilize hydropower potential’

Construction of 88MW Gabral-Kalam Hydropower Project and 157MW Madyan Hydropower Project will be supported as the first project. It would unlock the vast renewable energy potential of the province and will help in increasing the production of renewable energy in Pakistan.

Moreover, the National Transmission & Despatch Company (NTDC) will be the second project World Bank will fianance to construct a 765kV double circuit transmission line from DASU Hydro power Project to Islamabad via Mansehra, KP. It would transmit the electricity to respective DISCOs and would evacuate power from 2,260MW Dasu HPP (Phase-I). The transmission would be helpful in enhancing the transmission capacity, will provide stability, and will reduce line losses in the existing electricity network.

World Bank Country Director Najy Benhassine and Economic Affairs Secretary Noor Ahmed signed the financing agreements, while representatives of the KP government and NTDC signed the project agreements with the World Bank. The signing ceremony was witnessed by Prime Minister Imran Khan, Economic Affairs Minister Makhdoom Khusro Bakhtyar, and KP Chief Minister Mahmood Khan.

“This environmental-friendly power generation will not only support our efforts for clean and green Pakistan but also diminish the impacts of global warming,” the PM stated.

Economic Affairs Minister Makhdum Khusro Bakhtiar, after thanking the World Bank for its continued support further said, “The Ministry of National Food Security & Research would utilize this financing to control the locust attack, increase farm productivity, improve crop reporting mechanism and strengthen national food security monitoring & management system in Pakistan.”

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