K-Electric to invest $1.5 billion in energy infrastructure

K-Electric has announced that it plans on investing $1.5 billion in its energy infrastructure over the next three years, according to a statement released by the company after its 110th Annual General Meeting.

The company will be investing to upgrade and expand its power generation and distribution infrastructure, and the investments will be spread out over the entire value chain.

K-Electric's investment plan includes the expeditious completion of the new Bin Qasim Power Station (BQPS-III) and installation of new grid stations for up to 1,400MW of capacity by 2023.

The company also issued a statement saying that “however, sustainable resolution of the government receivables issue and timely approvals by regulator remain critical to the execution of these investment plans.”

The company has also incorporated a wholly owned subsidiary, KE Venture Company (Pvt) Ltd (KEVCL) as as part of a diversification strategy to explore investments in renewable energy. Moreover, K-Solar has also been incorporated under KE Venture Company to focus on solar energy generation. In addition to this, 150 megawatts of solar independent power producers are going to be installed in Vinder, Uthal and Bela as joint ventures under KEVCL.

In FY2020, K-Electric already invested Rs. 55 billion into its distribution network. The company also converted 9.000 Pole Mounted Transformers (PMT) to Aerial Bundled Cable (ABC), significantly reducing transmission and distribution losses, and load shedding.

The company hopes that these new investments will further enhance its energy infrastructure and performance.