Saudi Fund for Development Backs Hydro Power Projects in AJK

Azad Jammu and Kashmir welcomed a delegation from the Saudi Fund for Development (SFD) as part of the Green Energy Drive, culminating in agreements for financing two Hydro Power Projects in the region.

The Saudi delegation, led by the Fund’s CEO, Sultan bin Abdulrahman Al-Marshid, solidified agreements for the Shounter Hydro Project and the Jagran-4 Hydro Project.

The Shounter hydro project, with an estimated cost of $66 million, is projected to generate 48 megawatts of electricity, while the Jagran-4 hydro project, costing $41 million, will yield 22 MW of electricity upon completion.

Together, these initiatives will contribute an additional 70 megawatts to the national grid in hydropower generation.

It’s noteworthy that the Special Investment Facilitation Council played a pivotal role in facilitating the execution of these agreements, underscoring collaborative efforts towards sustainable energy development.