France will provide a loan of 28.5 billion rupees (120 million euros) for the Khayal Khor hydropower project, a 128 MW facility located in the city of Patan in Khyber Pakhtunkhwa (KPK).
A press release issued by the French Embassy said that a financial agreement was signed between the two governments in Islamabad on Monday. The agreement was signed by Secretary, Department of Economic Affairs (EAD) Dr. Kazim Naij, French Ambassador to Pakistan Nicolas Guille and Country Director of the French Development Agency (AFD) Philippe Steinmetz.
The concessional loan from France will support the Water and Power Development Authority (WAPDA) to develop the hydropower sector in Pakistan. The funding will also help increase the competitiveness of renewable electricity generation. This will help in increasing the supply of affordable power and energy.
The Khyal Khor Hydroelectric Project harnesses the energy potential of the tributaries of the Indus River. The 128 MW hydroelectric plant will generate 420 GW per year, of which 25 percent will be overloaded.
The project reflects the country's commitment to providing clean and environment-friendly energy and reducing greenhouse gas emissions at the recent Climate Resilient Pakistan Conference in Geneva.
The French Development Agency is providing financial and technical assistance to Pakistan through green investments in the energy and urban development sectors in the country. Secretary Economic Affairs Division thanked the French Government and the French Development Agency for providing financial assistance to Pakistan.
The concessional loan from France will support the Water and Power Development Authority (WAPDA) to develop the hydropower sector in Pakistan. The funding will also help increase the competitiveness of renewable electricity generation. This will help in increasing the supply of affordable power and energy.
The Khyal Khor Hydroelectric Project harnesses the energy potential of the tributaries of the Indus River. The 128 MW hydroelectric plant will generate 420 GW per year, of which 25 percent will be overloaded.
The project reflects the country's commitment to providing clean and environment-friendly energy and reducing greenhouse gas emissions at the recent Climate Resilient Pakistan Conference in Geneva.
The French Development Agency is providing financial and technical assistance to Pakistan through green investments in the energy and urban development sectors in the country. Secretary Economic Affairs Division thanked the French Government and the French Development Agency for providing financial assistance to Pakistan.
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