Markhor Energy and InfraCo Asia Development Pte. Ltd. (InfraCo Asia), a company of the Private Infrastructure Development Group (PIDG), announced the signing of a Joint Investment and Development Agreement (JIDA) for the development of portfolio of 5 hydropower projects with a projected combined power potential of approximately 100MW in Khyber Pakhtunkhwa (KP) Province of Pakistan. The projects will be implemented by Equicap Asia, InfraCo Asia’s contracted Developer Team for South Asia.
Five hydropower projects totaling 100MW in power will be developed in this stage. InfraCo Asia’s investment in the KP hydropower projects is aimed at providing a proof-of-concept for future small to medium hydropower project development throughout Pakistan. It supports InfraCo Asia’s aim to serve as a catalyst for private sector investment. By developing the KP projects in a sustainable manner that supports the health of local economies.
According to a recent survey Pakistan has a hydro power potential of 41,700MW out of which 24,000MW is in KP province. There are currently no small to medium hydro power projects in operation in the private sector many have expressed desire to build small dams but no one has come through mainly because of high risk.
Markhor Energy CEO Ali Maskatiya said, “Markhor Energy passionately believes that energy independence is paramount for Pakistan’s sustainable future development. Pakistan is blessed with abundant renewable sources of energy, all of which now offer rates of electricity consistently cheaper than their thermal based alternatives.