#Karot_Hydropower_Project #CPEC #Hydropower

Karot hydropower project (KHPP) is located on the Jhelum River. This is a foreign direct investment (FDI) project. The total investment amount is USD 1.74 billion. The installed capacity is 720MW (4×180MW), with average annual electricity output of 3206 GWH and annual utilization time of 4452 hours. As a single power generation hydropower complex, the project’s layout includes rock fill dam, spillway, powerhouse, diversion tunnels, head race power tunnels, tail race tunnels, etc. The project is being developed under the Power Policy 2002 on a Build-Own-Operate-Transfer (BOOT) basis, with an expected concession period of 30 years and construction period of 5 years. It has been listed as one of the prioritized/early harvest project under the China-Pakistan Economic Corridor. Karot HPP is developed by Karot Power Company (Private) Ltd. It is a joint venture of China Three Gorges South Asia Investment Ltd. (93%) and Silk Road Venture Investment Company (7%). China Three Gorges South Asia Investment Ltd. is registered in Pakistan and is financed by a consortium of China EXIM Bank and China Development Bank (70%), Silk Road Fund (15%), and International Finance Corporation (IFC) of World Bank (15%). Silk Road Venture Investment Company is registered in UAE.

All the power purchasing agreement (PPA), implementation agreement (IA), water usage agreement (WUA) have been signed in 2016. NEPRA announced the EPC stage review tariff for the project on 27 April, 2016.

In order to help Pakistan solve the energy crisis earlier and build the project faster, the ground-breaking of the project took place in January 2016 without financial close. The project formally commenced on December 1, 2016. In March 2017, Karot HPP achieved financial close.
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