ISLAMABAD, Dec.16(INP): An agreement valued at $250 million has been signed with the Asian Development Bank (ADB) as part of the Power Transmission Strengthening Project (PTSP).
This initiative aims to facilitate the procurement of power transmission equipment, essential for efficiently harnessing affordable and environmentally friendly power generated by four major projects in the northern region.
Three of these projects are integral components of the China-Pakistan Economic Corridor (CPEC), Gwadar Pro reported on Saturday.
The agreement was signed by ADB, the Ministry of Economic Affairs, and National Transmission and Despatch Company Limited (NTDC) under PTSP to power infrastructure enhancement to ensure National Grid stability, energy security, climate resilience, and increased transmission capacity to deploy sufficient, reliable clean and cost-effective energy for sustainable economic growth.
As per the official statement of NTDC, the said infrastructure development financing will be utilized for the procurement of power transmission equipment for the expansion of the transmission network, especially in the North region of Pakistan for the evacuation of cheap and environment-friendly energy from 800 MW Mohmand Dam, 884 MW Suki Kinari, 700.7 MW Azad Pattan and 1124 MW Kohala hydropower projects.
Moreover, high voltage transmission operations and maintenance works in Lahore are also a part of this financing by ADB. PTSP will also support gender mainstreaming, institutional and financial management, climate resilient system planning and operation, and project management capacity of NTDC.
Suki Kinari, an 884 MW hydropower project in Mansehra, KP, is 70% complete since achieving Financial Close (FC) in February 2017, according to CPEC’s official website.
Azad Pattan, a 700.7 MW hydropower project on the Jhelum River in AJK/Punjab, with China Gezhouba Group Company as a sponsor, is in the land acquisition phase, progressing toward FC.
Kohala, a 1124 MW hydropower project near Muzaffarabad on the Jhelum River, has initiated land acquisition, with FC in progress.
Mohmand, an 800 MW hydropower project by WAPDA, is under construction at 12 key sites. Expected to be completed in 2026, it aims to control floods, generate 800 MW of eco-friendly electricity, and provide 300 million gallons per day of drinking water to Peshawar.
INP/javed
