Energy has remained the core focus of China-Pakistan Economic Corridor (CPEC) and helped to reduce power shortage in Pakistan, says a report published by Gwadar Pro on Sunday. Prime Minister Shahbaz Sharif paid an important visit to the Karot Hydropower project, which is currently pro-gressing in full swing.
The visit came in the backdrop of rising energy shortage across Pakistan and Pakistan’s seeking updates on the early completion of essential projects under China-Pakistan Economic Corridor (CPEC). The project is the first hydropower project under CPEC with a 729 MW energy production capacity, being developed by the consortium of China’s most extensive renewable energy companies. Once com-pleted, the project would help Pakistan produce cheap electricity and help promote a green, clean and sustainable future.
With its completion, the project will generate 3.2 billion kilowatt-hours of electricity, meeting the power needs of 5 million people in the country. This will eventually reduce power shortage and increase economic growth for the country. The project will reduce 3.5 million metric tons of carbon emissions annually and save around 1.4 million tons of stan-dard coal equivalent each year. Energy has remained the core focus of China-Pakistan Economic Corridor (CPEC) since its be-ginning as China and Pakistan mutually decided to overcome the acute energy shortfall for Pakistan.
CPEC is making ways for Pakistan to achieve its sustainable energy needs, especially to build its renewable energy power generation capacity from the current 4 percent to 30 percent in 2030. The energy cooperation on CPEC is ongoing between China and Pakistan. Overall, there are 21 energy projects under this fate-changing project initiative between both countries. Among these, 11 have been completed, and the rest are in the process of completion and are at different stages of devel-opment progress.
When the initial development commenced on CPEC’s energy project, the power production capacity of Pakistan was no more than 20,000 MW, with two-thirds contribution from oil and hydro-based plants. The sources of power production had to be diversified through quick interventions such as coal and gas, to begin with, adding 6900 MW to the national grid.—INP