The efforts for optimizing and progressing the CPEC based hydropower generation in the country got major push today when the Board of Private Power and Infrastructure Board (PPIB) in its 128th meeting held today under the Minister for Power Mr. Omar Ayub Khan approved “Standardized Security Package Documents for Hydropower Projects” for submission to ECC for final approval.
The said documents have been prepared by PPIB with the consultation of federal and provincial stakeholders to cater for institutional requirements at federal as well as provincial and AJ&K level. This will help in mitigating protracted negotiations with the private investor thus paving way for smooth and timely implementation of hydropower projects. With the approval of these documents from ECC, the specific agreements of 1,124 MW Kohalaand 700 MW Azad Pattan Hydropower Projects will stand approved for execution.
The Minister appreciated this development and said that the GoP is doing every effort for attracting foreign direct investment in the country and today’s accomplishment is a latest example of GoP’s commitment for improving power supply in the country.
With the implementation of these two major hydropower projects under CPEC, more than 8,400 GWh of clean and green energy would be added to the national grid every year. The Minister further stated that the present government is reducing red tapism to fully facilitate the investors for availing the variables of growth and better returns which are available in the energy sector.
The Managing Director PPIB Mr. Shah Jahan Mirza briefed the Board on various ongoing power generation projects being implemented all over the country. The Board was briefed that PPIB is currently processing a diversified portfolio of twenty five power generation projects of around 12,500 MW while strategically important Matiari-Lahore HVDC Transmission Line Project is also part of its active portfolio.
The Minister appreciated PPIB’s performance and advised continue playing its role in further streamlining the processes for facilitation of investors and timely completion of pipeline projects