A delegation of the KfW Development Bank, Germany, headed by Dr Claudia Loy called on Water and Power Development Authority (WAPDA) chairman in Lahore on Monday to discuss financing of various hydropower projects.
The KfW Development Bank is providing €97 million for the construction of 122 MW-Keyal Khwar and has also made commitments for the co-finance of 35 MW-Harpo Hydropower Project along with its French counterpart AFD by providing €20 million. Additionally, the KfW Development Bank had also shown interest in financing the 80 MW-Phandar Hydropower Project.
During the meeting with the KfW Development Bank's delegation, WAPDA chairman thanked them for supporting and financing a number of Wapda projects.
He expressed the hope that there would be cooperation between the KfW Development Bank and WAPDA, which would be further enhanced over the coming days. He apprised the delegation that main works of Keyal Khwar Hydropower Project would be initiated soon, as all the pre-requisites had been almost finalised in this regard.
Wapda chairman expressed the hope that KfW Development Bank would come forward for better investment opportunities in other hydropower projects and for the welfare of the people of Pakistan.
According to the KfW Development Bank Division chief, who appreciated the technical expertise of WAPDA, WAPDA was one of the best organisations in Asia. She added the KfW Development Bank and WAPDA had a long history of mutual cooperation, adding that the bank would continue supporting WAPDA for construction of water and hydropower projects.
She added the bank felt Pakistan's energy sector needed more financing from Germany.
According to WAPDA, Keyal Khwar was one of 15 hydro projects WAPDA said it was currently developing as part of its "least-cost energy generation and water storage plan" that could eventually include as many as 26 new hydropower plants, 21 GW of new installed capacity and 13 million acre feet of water storage.