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Loan Approved by World Bank for DASU Hydropower Project

Loan Approved by World Bank for DASU Hydropower Project-realtorspk
Islamabad: The World Bank has granted an additional $1 billion for the DASU Hydropower Project, a significant boost to Pakistan’s renewable energy initiatives. The funding aims to facilitate the country’s shift to clean and cost-effective energy, thus enhancing its capacity to fulfill escalating energy needs sustainably. This financing aims to expand:
  • Hydropower electricity supply
  • Enhance socio-economic services for local communities
  • Strengthen the Water and Power Development Authority’s capacity for future hydropower projects.
World Bank Country Director for Pakistan Najy Benhassine said;
“Pakistan’s energy sector suffers from multiple challenges to achieving affordable, reliable, and sustainable energy.The DASU Hydropower Project site is one of the best hydropower sites in the world and is a game changer for the Pakistan energy sector. With a very small footprint, the DHP will contribute to ‘greening’ the energy sector and lowering the cost of electricity.”
  • DHP is a run-of-river project on the Indus River about 8 km from Dasu Town, the capital of the Upper Kohistan District of Khyber Pakhtunkhwa Province.
  • After the successful completion of this project, it will have an installed capacity of 4,320–5,400 MW.
  • The project is being built in stages.
  • DHP-I has a capacity of 2,160 MW and will generate 12,225 gigawatt hours (GWh)/year of low-cost renewable energy.
  • The DHP-II will add 9,260–11,400 GWh per year from the same dam.
Rikard Liden, Task Team Leader for the Project said;
“DHP-I is an essential project in Pakistan’s efforts to reverse its dependence on fossil fuels and reach 60 percent renewable energy by 2031”.
Additionally the project will also continue ongoing community development activities on roads, irrigation schemes, schools, medical facilities, mosques, bridges, solar energy systems, and science laboratories and libraries, all with a particular focus on women beneficiaries. For the latest Real Estate News and Blogs, visit Realtorspk blogs.

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