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October 16, 2020

World Bank to offer $1.15bn for two power projects in Pakistan

The World Bank has signed agreements with the Government of Pakistan to provide concessional financing of $1.15bn for two power projects.

The World Bank has signed agreements with the Government of Pakistan to provide concessional financing of $1.15bn for two power projects.

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The financing will go toward the development of a hydropower and renewable energy project in Khyber Pakhtunkhwa. It will also fund the transmission of power from the DASU Hydropower Project.

Economic Affairs division secretary Noor Ahmed signed the two loan agreements on behalf of the national government. The Government of Khyber Pakhtunkhwa, and the companies WAPDA and National Transmission and Dispatch Company had representatives sign their respective project agreements.

World Bank country director Najy Benhassine signed the agreements on behalf of the bank.

Under the first agreement, World Bank has agreed to provide Pakistan with $450m for Khyber Pakhtunkhwa Hydropower and Renewable Energy Development project.

This project will support the construction of an 88MW Gabral-Kalam Hydropower Project, as well as the 157MW Madyan Hydropower Project.

In turn, this will help the Pakhtunkhwa Energy Development Organization to develop additional renewable energy generation.

As part of the second financing agreement, World Bank will provide $700m for the transmission of power from the 2.16GW DASU Hydropower (Phase-I) Project.

The funds will assist construction of a 765kV double circuit transmission line from the DASU hydropower plant to Islamabad, through Mansehra. Additionally, the transmission line is said to be used for power evacuation from new upcoming projects in that area.

Pakistan Prime Minister Imran Khan said that the government will continue with the objective of socio-economic uplift of the country’s citizens.

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Delve into the renewable energy prospects for Morocco

In its new low greenhouse gas (GHG) emission strategy to 2050, submitted to the United Nations (UN), the Ministry of Energy Transition and Sustainable Development (MEM) of Morocco suggested to raise the share of renewable capacity in the country’s total power installed capacity mix to 80%.   Morocco currently aims to increase the share of renewables in total power capacity to 52% by 2030. The new strategy plans to increase the share of renewable capacity to 70% by 2040 and 80% by 2050.  GlobalData’s expert analysis delves into the current state and potential growth of the renewable energy market in Morocco. We cover: 
  • The 2020 target compared to what was achieved 
  • The 2030 target and current progress 
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  • Green hydrogen 
  • Predictions for the way forward  
Download the full report to align your strategies for success and get ahead of the competition.   
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Enter your details here to receive your free Report.

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