Balakot project to add 300MW to national grid
The Balakot hydro power project would add 300 megawatt to the national grid besides generating about Rs1.3 billion revenue per annum and providing ample employment opportunities.
Malik Luqman, Senior Planning Officer, KP Energy Department told this news agency that the project will comprise construction of a 300 MW run-of-river hydro power plant located in Mansehra district of Khyber Pakhtunkhwa, adding on its completion, people of the area would have affordable and smooth power supply.
He said it would boost the provincial economy and promote revenue generating investments in the hydro abundant KP. Luqman said a survey for land acquisition was carried out and physical demarcation on dam reservoirs, colony, access road, and surge area almost completed.
He said the project would be completed with assistance of Asian Development Bank (ADB) besides generating jobs for thousands of youth and technical workforce.
“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 i.e. 88MW Gabral Kalam and 157 MW Madyn in Swat are being executed with an assistance of World Bank costing Rs142 billion, he said adding World Bank would provide US $ 450 million while KP Govt would contribute $151 million and $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.