Pakistani prime minister inaugurates country's first independent hydropower project

New Bong Hydropower Project

Pakistani Prime Minister Muhammed Nawaz Sharif helped officially inaugurate the country's first the country's first privately-owned hydropower project earlier today, Asian news sources report.

Sharif, elected earlier this year on a platform devoted in large part to resolving Pakistan's load shedding problems, said the 84-MW New Bong hydroelectric plant is a step toward energy security.

The project is owned by a subsidiary of the Hub Power Company (Hubco) called Laraib Energy Ltd., with power being sold to Pakistan's National Transmission and Dispatch Company (NTDC) under a 25-year power-purchase agreement.

Officials said they hope the project will pave the way for more private investments into Pakistan's hydropower sector, with only 6,500 MW of an estimated 100,000 MW of potential left untapped.

The project is also reported as being the country's first hydropower project to be registered under the United Nations' Framework Convention on Climate Change as a Clean Development Mechnism (CDM).

HydroWorld.com reported in May that IBM had been selected to provide automation software for the US$235 million project.

For more news from Asia, visit here.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs