Federal Minster for Investment Chaudhry Salik Hussain has expressed his annoyance at National Electric Power Regulatory Authority (Nepra) for not cooperating with a South Korean company which intends to establish 47-MW hydel power plant in Khyber Pakhtunkhwa
In a letter to Director Nepra Tauseef H Farooqi, Hussain battled that he is writing to convey the profound worries of Korea Hydro and Atomic Power (KHNP) Ltd, a South Korean organization and auxiliary of the Korea Electric Power Company, on the present status of its hydro power project in Pakistan, i.e., Lower Spat Gah (LSG) of 470-MW situated at Kohistan, Khyber Pakhtunkhwa.
Korea Hydro and Atomic Power (KHNP) is a State Claimed Organization of South Korea which possesses and keeps 80,000-MW age limits overall with a resource base of around $ 170 billion.
Moreover, Korea South East Power Organization (KOEN) is likewise an auxiliary of Korea Electric Power Enterprise which started putting resources into Pakistan back in 2013 and effectively conveyed 102-MW Gulpur Hydropower project, as of late.
According to subtleties of the venture, the organization went into public confidential mode with the Public authority of Khyber Pakhtunkhwa and satisfied its responsibility by refreshing the practicality study and applying for an Age Permit and tax request to Nepra. Notwithstanding, their applications were returned by Nepra due to avoidance of the task in the Demonstrative Age Limit Development Plan (IGCEP: 2022-3 1). The choice has not just shaken the certainty of the organization for additional speculations yet additionally brought about the suspension of all venture discussions with Multilateral Advancement Banks (MDBs) including employing of nearby recourses.
Aside from development of hydro power plants, the organization additionally arranged common development work to further develop the nearby framework including foundation of medical care offices and instruction support for the neighborhood local area at distant area of Kohistan, Pakistan. The arranged green-field interests in clean energy are not just essential for adding to the public matrix yet will likewise diminish the country’s reliance on imported fuel.
Taking into account existing situation, Leading body of Venture being the peak organization of Administration of Pakistan for assistance of unfamiliar speculations mentioned for help to the organization on need premise and stretch out due thought into the certified issues absolutely on its benefits, so the certainty of Korean financial backers be reestablished without hampering respective venture relations.
Another Korean organization, Korea Southeast Power Co., Ltd. (KOEN), a South Korean power area organization has communicated its reservations against government substances, including Public Electric Power Administrative Power (Nepra), for purportedly imperiling their two hydropower projects.
The main state-possessed power age organization, working around 10,000-MW with resource base of $ 15 billion in South Korea moved further to bring Unfamiliar Direct Venture of around $ 1.2 billion for the improvement of 229-MW Asrit Kedam Hydropower project and 238-Kalam Asrit hydropower project on BOOT premise situated in Smack area of Khyber Pakhtunkhwa after the effective dispatching of the 102-MW Gulpur Hydropower Undertaking in 2015.
“Over the top deferrals, first and foremost because of endorsement of IGCEP-2022-31 by 8-9 months and presently because of absence of clearness in 2022 Guidelines on Nepra’s part are investing it amounts of energy, its ventures, and genuinely necessary Unfamiliar Direct Interest in Pakistan in peril and have profoundly impacted supports,” said the Branch Supervisor.