LAHORE:
A delegation from the Deputy Executive Directors of the Asian Development Bank (ADB) visited the Water and Power Development Authority (Wapda) House and discussed funding opportunities for Wapda projects, according to a statement released on Thursday.
According to the statement, the delegation was informed that Pakistan has about 70,000 MW of identified hydroelectric potential. Wapda owns and operates 22 hydel power plants with a cumulative generating capacity of 9459 MW, which will be more than doubled by phased completion of ongoing projects from 2025 to 2028-29, adding about 10,000 MW of clean, green and affordable electricity energy. Wapda plans to improve the proportion of low-cost hydel power in the national grid from the existing 29% to 40% by 2030 and 50% by 2050.
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The delegation was also briefed on the progress on ADB-funded Wapda projects, namely Naulong Dam multi-purpose project, Kurram Tangi Dam stage-II and Patan Hydropower Project. Wapda’s development portfolio, including Mohmand Dam, Diamer Basha Dam and Keyal Khwar, was presented for consideration of financial assistance. Member (Finance) briefed the delegation on Wapda’s financial strategy, highlighting its technical and financial credibility among international financial institutions, including the World Bank.
In his greetings, the president called ADB a valuable partner and said Wapda has benefited greatly from the bank’s support. He suggested that ADB upgrade its engagements with Wapda from medium to major and then to strategic projects.
Appreciating Wapda’s institutional strength, the delegation expressed interest in enhancing funding for upcoming Wapda projects.
Published in The Express Tribune, May 24u2024.
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