A Chinese Foreign Ministry Spokesperson on Thursday said that the energy projects completed under China Pakistan Economic Corridor (CPEC) featuring advanced technologies and lower cost not only provided a solution to Pakistan's electricity shortage, which was a historic achievement for the country but also helped Pakistan improve its energy structure and reduce the cost of power generation.
This is an important contribution to the local economy and people's lives, Zhao Lijian said during his regular briefing held here at International Press Center (IPC).
He said that energy was one of the most heavily invested, fastest advancing, and most productive cooperation areas under CPEC.
The spokesperson said that this year, the Karot hydropower plant, the first large-scale hydropower investment project under CPEC, and the Phase II of the Thar Block II power station project had gone into commercial operation. The former project provides massive clean and affordable electricity for Pakistan, and the latter generates power from Pakistan's coal, which helps save Pakistan's valuable foreign exchange resources, he added.
According to official sources, the total installed capacity of CPEC energy projects, including that of coal, wind, solar and hydropower, stands at 6,570 MW. They generated 28,549.94 Gwh and 25,772.48 Gwh power respectively in FY 2020-21 and FY2021-22, accounting for 22.03% and 18.37% of the total generation in Pakistan.
As the CPEC energy projects replaced the costlier energy production from furnace oil and diesel to coal and renewable energy resources in the last five years, the energy needs of Pakistan have been fulfilled at lower prices, driving growth in the export-oriented industries.