Islamabad: A delegation of Asian Development Bank (ADB) Joint Executive Directors visited WAPDA House the other day to discuss financing options for WAPDA projects.
Chairman WAPDA Lt. General Sajjad Ghani (Front), Member (Finance), GM (Projects) South and PDs of various WAPDA projects attended the meeting.
This meeting was also attended by GM (C&M) Water, GM Finance (Water/Power), Advisor (Hydro Resources Management) WAPDA and Advisor (Hydro Planning) WAPDA.
The delegation said that Pakistan has a hydropower generation potential of about 70,000 MW. WAPDA owns and operates 22 hydroelectric power plants with a cumulative generating capacity of 9,459 MW, which will double with the phased completion of its projects from 2025 to 2028-29 and around 10,000 MW of clean, green and economical electricity
WAPDA plans to increase the share of low-cost renewable electricity in the National Grid from the current 29 percent to 40 percent by 2030 and to 50 percent by 2050.
The delegation was also briefed on ADB-funded WAPDA projects including Naulong Dam Multipurpose Project, Kurram Tangi Dam Phase II and Patan Hydroelectric Project.
WAPDA’s development portfolio consisting of under-construction and completed projects such as Mohmand Dam, Diamer Basha Dam and Keyal Khwar was also presented to the ADB delegation for financial assistance.
Member (Finance) reminded the delegates about the key features of WAPDA’s financial strategy.
He said WAPDA has technical and financial credibility with international financial institutions including the World Bank.
In his congratulatory speech, the President called ADB a valuable partner and said that WAPDA has greatly benefited from the Bank’s support. Apart from promoting the socio-economic development of the community, the WAPDA project contributes to the strategic objectives of climate change mitigation and green energy generation.
The Chief Minister said that ADB can increase its relationship with WAPDA to medium and large and then to strategic projects.
Appreciating WAPDA’s institutional strength, the delegation expressed interest in exploring ways and means of increasing funding for WAPDA’s future projects.
