Summary The Project would save 100 million dollar per annum in terms of import of furnace oil.
ISLAMABAD (Web Desk) - Prime Minister Nawaz Sharif is expected to inaugurate Pakistan s first private hydropower Project Mirpur‚ Azad Kashmir today (Monday).
The 84 megawatts New Bong Escape Hydropower Project was initially scheduled to be completed in 42 months‚ but has been completed two months earlier.
The Project has the distinction of being Pakistan s first hydropower project to be registered with the United Nations Framework Convention on Climate Change as clean mechanism development Project.
It has made solid contribution in offsetting green house emission globally.
The Project would save 100 million dollar per annum in terms of import of furnace oil.
The Asian Development Bank and other lending agencies, multilateral IDB, IFC and Proparco France and two domestic commercial banks, NBP and HBL, played a constructive role in structuring the project and finance documents.
