Saudi gov't agency signs agreements for funding two hydro power projects in Pakistan

A delegation of Saudi Fund for Development (SFD) visited Pakistan's Azad Kashmir region under the Green Energy Drive and signed agreements for funding two Hydro Power Projects in the area, Report informs via Pakistan Today.

According to a statement on Sunday, the Saudi delegation was headed by the CEO of the Fund, Sultan bin Abdulrahman Al-Marshid. These projects include Shounter Hydro Project and Jagran-4 Hydro Project.

The Shounter Hydro Project will generate 48 megawatts of electricity at a cost of $66 million while the Jagran-4 hydro project will be completed at a cost of $41 million and will generate 22 MW of electricity.

These two projects will add 70 megawatts to the national grid in hydropower generation.

It is pertinent to mention that the Special Investment Facilitation Council played a key role in the execution of these agreements.