Wednesday, June 19, 2024

World Bank Approves $1 Billion For Dasu Dam Construction

The World Bank has approved $1 billion in financing for Pakistan to support the construction of the Dasu Dam.

This funding will aid in expanding hydropower electricity supply, enhancing access to socio-economic services for local communities, and strengthening the Water and Power Development Authority’s (WAPDA) capacity to prepare future hydropower projects.

- Advertisement -

The Dasu Hydropower Project (DHP) is a run-of-river project situated on the Indus River, approximately 8 kilometers from Dasu Town, the capital of Upper Kohistan District in Khyber Pakhtunkhwa Province. Once completed, the dam will have an installed capacity of 4,320–5,400 MW.

The project is being constructed in stages. The first stage, DHP-I, has a capacity of 2,160 MW and is expected to generate 12,225 gigawatt hours (GWh) per year of low-cost renewable energy. The second stage, DHP-II, will add between 9,260 and 11,400 GWh per year from the same dam.

“DHP-I is a crucial project in Pakistan’s efforts to reduce its reliance on fossil fuels and achieve 60 percent renewable energy by 2031,” stated Rikard Liden, Task Team Leader for the Project. “The additional financing will expand electricity supply, potentially saving Pakistan an estimated $1.8 billion annually by replacing imported fuels, and offsetting around 5 million tons of carbon dioxide. The annual economic return of DHP-I is projected to be around 28 percent.”

Stay updated with the latest and breaking news directly on your mobile phone by joining Headline PK's WhatsApp group!

For the most recent updates, don't forget to follow us on Twitter @Headline_pk. You can also find us on Facebook, Instagram, and YouTube.

 

 

0 0 votes
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

Latest stories

-Advertisement-

Highlights of the Week
Related

Finance Minister Aurangzeb Highlights Freelancers’ $3.5 Billion Export Contribution

Finance Minister Muhammad Aurangzeb praised Pakistani freelancers, noting that...

Govt Reduces Petrol by Rs 10.2 / Litre, Diesel Rs 2.3

The federal government announced a reduction of Rs. 10.20...

CCP Grants Time-Bound Exemption in Uber-Careem Deal

The Competition Commission of Pakistan (CCP) has granted exemption...

PM Removes Finance Minister Aurangzeb from ECNEC Chairmanship

Finance Minister Muhammad Aurangzeb has been removed from another...
-Advertisement-