--Development
described as ‘big milestone’
Aerial view
of the Karot Hydropower Station in Pakistan.
Image
Credit: China Three Gorges Corporation
Islamabad: The Karot Hydropower Project, the
first hydroelectricity project under the China-Pakistan Economic Corridor
(CPEC), is close to completion as it began storing water in its reservoir for
future use.
Pakistani officials described the development
as a “big milestone” as the hydropower project successfully closed the gates of
diversion tunnels on Saturday to start reservoir impoundment, the accumulation
of water in its reservoir. Around 95 per cent of the project has been
completed. The four units of the station are expected to generate electricity
in the first half of 2022.
Clean energy
The Karot Hydropower Project is located on the
Jhelum River in northeastern Pakistan, some 65 kilometres from the capital
Islamabad. It is the fourth of five cascade hydropower stations planned for the
Jhelum River. The 720MW project will enable Pakistan to access cheaper and
greener power, help resolve the power crisis while creating job opportunities.
Cost and investors
Built at an estimated cost of $1.7 billion, it
is a landmark Belt and Road Initiative (BRI) project as it is the first to be
funded by China’s $40 billion Silk Road Fund. The project is managed by Pakistan’s
Karot Power Company and the major investment comes from China Three Gorges
Corporation (CTG), which is
among the world’s largest producers of hydroelectric power. The project has
been developed on a build-own-operate-transfer (BOOT) basis.
Cheap electricity and jobs
Karot Power Company will run and maintain the
project for 30 years at a tariff of 7.57 cents per unit after which it will be
transferred to the Punjab government at a notional price of Rs1.00. The project
provided over 4,000 jobs for the locals during the peak time of its
construction. The project also expects “to reduce carbon dioxide emissions by
3.5 million tons per year” by tapping renewable energy.
Capacity
It has an installed power generation capacity
of 720 megawatts with an average annual electricity output of 3,436GWh. It will
provide clean, reliable and affordable electricity to seven million households.
The electricity will be sold to the National Transmission and Despatch Company
under a 30-year power-purchase agreement. The plant will be transferred to the
provincial Punjab government after 30 years. During the construction period, it
would pay $23 million in taxes to the Pakistan government.
Project details
It includes a 95.5-meter high dam, a surface
powerhouse, four headrace tunnels, diversion tunnels, a spillway, reservoir
storage of 164.50 million cubic metres and an approximately 5km long 500kV
transmission interconnection to the national grid.
Source: GULF NEWS
