WB allocates additional USD 700mn for Dasu Hydropower Project.

Islamabad: The World Bank (WB) has allocated USD 700 million in additional financial assistance for the expansion of the Dasu Hydropower Project, a news source reported.

As per the publication, these funds will be channeled into the installation of a 2,160-megawatt hydropower system on the Indus River. The World Bank Board of Directors has sanctioned this package to enable Pakistan to supply renewable, low-cost energy to local consumers.

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Narrowly, this WB financing arrangement will see the completion of Stage I of the Dasu project.

Stage II, as per the project blueprint, involves a doubling of the capacity of the hydropower project to 4,320 megawatts; making it the largest undertaking of its kind in the country. The electricity produced by the Dasu Project is expected to cost USD 0.03 per kilowatt-hour (kWh), while the current electricity costs in Pakistan amount to USD 0.08 kWh.

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WB Country Director for Pakistan Illango Patchamuthu has said that the Dasu Hydropower Project would minimize the country’s fossil fuel import volume and relieve its economic balance stress; in addition to lessening aggregate energy costs.

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Further, Project Task Team Leader Rikard Liden has stated that the Dasu Project is ‘one of the best hydropower projects’ in the world because of its low environmental footprint.