Overcapacity issue cited: Korean co to delay its 2 hydropower projects

ISLAMABAD: Korea South-East Power Company (KOEN) has expressed willingness to delay the execution of its two proposed hydropower projects in Pakistan until the country’s power generation overcapacity issue is resolved, provided the government assures inclusion of these projects in the revised Indicative Generation Capacity Expansion Plan (IGCEP).

This was conveyed by KOEN representatives during a meeting with Federal Minister for Commerce, Jam Kamal Khan, who was briefed on the projects following his recent official visit to the Republic of Korea.

According to sources, the Korean delegation stated that the company is prepared to align its commercial operations with the Government of Pakistan’s (GoP) evolving energy plans.

“We are ready to adjust our commercial timelines in line with government priorities. The determination of tariff does not create any financial liability for the government, and our proposed tariff remains competitive compared to the overall electricity basket price,” the delegation reportedly noted.

Copyright Business Recorder, 2026