Islamabad, 2 July 2022 (TDI): Prime Minister of Pakistan, Muhammad Shehbaz Sharif has thanked the Chinese government for its assistance in the Karot Hydropower Project.
وزیراعظم شہباز شریف نے کروٹ پن بجلی منصوبے میں تعاون پر چینی حکومت کا شکریہ ادا کیا ہے۔ انہوں نے اعلان کیا کہ 720 میگاواٹ کا کروٹ پن بجلی منصوبہ فعال ہوچکا ہے۔ وزیراعظم نے کہا کہ سی پیک کے تحت مکمل ہونے والا یہ پہلا پن بجلی منصوبہ ہے. pic.twitter.com/iy3QXrcUZW
— Government of Pakistan (@GovtofPakistan) July 2, 2022
He announced the completion of the 720 Megawatt Karot hydropower project in a tweet.
According to the Prime Minister, it is the first hydropower project completed under CPEC.
On June 29th, the 720 MW Karot Hydropower Project, the first hydropower investment project under CPEC, started functioning.
Its investment and construction are by China Three Gorges South Asia Investment Ltd (CSAIL). Which successfully began commercial operations to provide clean and green electricity to the people of Pakistan.
On 29th June,the 720 MW Karot Hydropower Project, the first hydropower investment project under CPEC, invested and developed by China Three Gorges South Asia Investment Ltd (CSAIL),successfully started commercial operations for providing clean and green energy to the people of 🇵🇰 pic.twitter.com/DzjXjbk1wV
— CPEC Official (@CPEC_Official) July 1, 2022
Karot Hydropower Project
The Karot Hydropower Project is located on the Jhelum River and is the fourth of five Cascade HPPs.
In addition, the Project’s installed capacity is 720MW (4180MW), with an average annual energy output of 3206 GWh and annual usage hours of 4452h.
The project’s structure layout comprises a rockfill dam, spillway, powerhouse, and diversion tunnels. As well as, head race power tunnels, tail race tunnels, and other features as a single power-producing job hydropower complex.
Moreover, the project construction is on a Build-Own-Operate-Transfer (BOOT) basis under the Power Policy 2002. In addition, it is with a construction term of 5 years and a concession duration of 30 years.
It is under a 30-year power purchase agreement. Also, the independent power producer (IPP) will sell all of its energy to the Pakistani state-owned power transmission corporation National Transmission and Despatch Company.
Accordingly, the US $2 billion project was funded through a consortium of Chinese state-owned lenders, including China Development Bank (CDB) and Exim Bank of China.
Likewise, the World Bank’s private-sector lending arm IFC authorized a US$100 million loan in 2016.
The China Three Gorges Corp stated that throughout the project’s construction, it gave scholarships for more than 20 public welfare projects, including schools, and hospitals. Also, roads for local communities, to encourage community development.
Furthermore, the initiative has the potential to create over 4,500 direct and indirect local employment per year.
