AGL 39.71 Decreased By ▼ -0.42 (-1.05%)
AIRLINK 189.85 Increased By ▲ 0.42 (0.22%)
BOP 9.83 Decreased By ▼ -0.51 (-4.93%)
CNERGY 7.01 Decreased By ▼ -0.20 (-2.77%)
DCL 10.24 Increased By ▲ 0.03 (0.29%)
DFML 41.31 Decreased By ▼ -0.49 (-1.17%)
DGKC 105.99 Decreased By ▼ -2.64 (-2.43%)
FCCL 37.72 Decreased By ▼ -0.87 (-2.25%)
FFBL 93.41 Increased By ▲ 3.50 (3.89%)
FFL 15.00 Decreased By ▼ -0.02 (-0.13%)
HUBC 122.30 Decreased By ▼ -0.93 (-0.75%)
HUMNL 14.31 Decreased By ▼ -0.14 (-0.97%)
KEL 6.32 Decreased By ▼ -0.02 (-0.32%)
KOSM 8.12 Decreased By ▼ -0.28 (-3.33%)
MLCF 48.78 Decreased By ▼ -0.69 (-1.39%)
NBP 72.31 Decreased By ▼ -2.51 (-3.35%)
OGDC 222.95 Increased By ▲ 9.54 (4.47%)
PAEL 33.62 Increased By ▲ 0.63 (1.91%)
PIBTL 9.67 Increased By ▲ 0.60 (6.62%)
PPL 201.45 Increased By ▲ 1.52 (0.76%)
PRL 33.80 Decreased By ▼ -0.75 (-2.17%)
PTC 26.59 Decreased By ▼ -0.62 (-2.28%)
SEARL 116.87 Decreased By ▼ -1.32 (-1.12%)
TELE 9.63 Decreased By ▼ -0.25 (-2.53%)
TOMCL 36.61 Increased By ▲ 1.19 (3.36%)
TPLP 11.95 Decreased By ▼ -0.62 (-4.93%)
TREET 24.49 Increased By ▲ 2.20 (9.87%)
TRG 61.36 Increased By ▲ 0.46 (0.76%)
UNITY 36.06 Decreased By ▼ -0.63 (-1.72%)
WTL 1.79 No Change ▼ 0.00 (0%)
BR100 12,150 Decreased By -15.1 (-0.12%)
BR30 38,093 Increased By 312.6 (0.83%)
KSE100 114,302 Increased By 121.3 (0.11%)
KSE30 35,805 Increased By 104.1 (0.29%)

The World Bank’s Board of Executive Directors approved $1 billion as the second round of additional financing for the Dasu Hydropower Stage I (DHP I) Project.

As per a statement released by the global lender on Monday, the financing will support the expansion of hydropower electricity supply, improve access to socio-economic services for local communities, and build the Water and Power Development Authority’s (WAPDA) capacity to prepare future hydropower projects.

“Pakistan’s energy sector suffers from multiple challenges to achieving affordable, reliable, and sustainable energy,” said Najy Benhassine, World Bank Country Director for Pakistan.

“The Dasu Hydropower Project site is one of the best hydropower sites in the world and is a game changer for the Pakistan energy sector. With a very small footprint, the DHP will contribute to ‘greening’ the energy sector and lowering the cost of electricity.”

$390m IBRD loan: World Bank likely to restructure T4HP to extend closing date

Dasu Hydropower Project is a run-of-river project on the Indus River about 8 km from Dasu Town, the capital of the Upper Kohistan District of Khyber Pakhtunkhwa.

Upon completion, the project will have an installed capacity of 4,320–5,400 MW.

As per the statement, the project is being built in stages. DHP-I has a capacity of 2,160 MW and will generate 12,225 gigawatt hours (GWh)/year of low-cost renewable energy. The DHP-II will add 9,260–11,400 GWh per year from the same dam.

“DHP-I is an essential project in Pakistan’s efforts to reverse its dependence on fossil fuels and reach 60 percent renewable energy by 2031.” said Rikard Liden, Task Team Leader for the Project.

World Bank SARVP meets Finance Minister

“The second additional financing will facilitate the expansion of electricity supply and potentially save Pakistan an estimated $1.8 billion annually by replacing imported fuels, and offset around 5 million tons of carbon dioxide. The annual economic return of DHP-I is estimated to be around 28%.”

The World Bank said the additional financing will further support ongoing socio-economic initiatives in Upper Kohistan, particularly in the areas of education, health, employment, and transport.

Comments

Comments are closed.

Dr Umar Jun 11, 2024 12:25pm
A wb funded billion dollars project in Pakistan finally. Visionary leader HE Asim Munir is guiding Pakistan in the right direction.
thumb_up Recommended (0)
Doc Asad Jun 11, 2024 02:12pm
@Dr Umar , I hope this so called visionary leader will do something about our palestinian brothers:)
thumb_up Recommended (0)
Shahbaz Ali Jun 11, 2024 06:00pm
@Dr Umar , All dams built in Pakistan including Tarbela and Mangla were financed in USD. We should try to cherish good news instead of just painting everything in negative.
thumb_up Recommended (0)