The Khyber Pakthunkhwa Government is all set to perform the groundbreaking of 300 megawatt Balakot Hydropower Project (HPP) in March this year which on completion is likely to generate Rs1.3 billion revenue per year.
Malik Luqman, Senior Planning Officer, KP Energy Department told APP on Wednesday that preparations for Balakot HHP’s groundbreaking in Mansehra district having Rs85,912 million estimated cost and 300 megawatt electricity generation capacity besides Rs 1.3 billion annual revenue, has almost been completed and is expected to be performed in March this year. He said it is a six years project that would be completed in 2027 for which consultant has already been hired.
Luqman said survey for land acquisition was carried out and physical demarcation on dam reservoirs, colony, access road, and surge area completed. He said the project would be completed with assistance of Asian Development Bank (ADB) besides generation of jobs for thousands of youth and technical work force.
“Work on 496MW Lower Spat Gah HHP has been launched under Public Private Partnership (PPP) with assistance of Korea Hydro and Nuclear Power Company (KHNP),” he said, adding International Finance Corporation (IFC), a sister organization of World Bank Group, had been engaged for transaction advisory services to help assist Pakhtunkhwa Energy Development Organization (PEDO) for arranging necessary financing for development of HPPs.
Two HPPs is 88MW Gabral Kalam and 157 MW Madyn in Swat are being executed with an assistance of World Bank costing Rs 142 billion, he said adding World Bank would provide US $ 450 million while KP Govt would contribute US $ 151 million and US $ 185 million would be arranged through commercial financing by World Bank. He said Rs10 billion revenue is likely to be generated from these two mega projects besides conduction of feasibility studies for 10 HPP sites.
In Kurram district, he said construction on 10.5MW Chapri Charkhel HPP worth Rs4.378 billion having power generation capacity of 73.56GHW and Rs838.41 million annual revenue, has been initiated besides mini macro schemes worth Rs838 million having about 3,000 KW generation capacity in merged districts are in various stages of implementation.
He said KP Government was engaged with UK Foreign Commonwealth and Development Office (FCDO) through Sustainable Energy and Economic Development Program (SEEDP) under which technical assistance would be provided for innovative financial solutions, energy business plan, auction and wheeling management and transaction advisory services to IPP projects besides resolving tariff issues.
Prime Minister’s Access to Clean Energy Investment Program (PM ACENIP)’ worth rupees 18 billion had been initiated with financial assistance of Asian Development Bank (ADB) under which 1,028 mini macro HPPs are being constructed in two phases in northern districts of the province.—APP