SFD signs deals to support Pakistan’s clean energy sector

SFD signs deals to support Pakistan’s clean energy sector

Saudi Fund for Development (SDF) has signed two development agreements with Islamic Republic of Pakistan Ministry of Economic Affairs Secretary Dr. Kazim Niaz to finance the establishment of the Shounter Hydropower and the Jagran-IV Hydropower Projects with development soft loans amounting to $66 million and $35 million, respectively. The first agreement is intended to construct […]Saudi Fund for Development (SDF) has signed two development agreements with Islamic Republic of Pakistan Ministry of Economic Affairs Secretary Dr. Kazim Niaz to finance the establishment of the Shounter Hydropower and the Jagran-IV Hydropower Projects with development soft loans amounting to $66 million and $35 million, respectively.

The first agreement is intended to construct the Shounter Hydropower station with a capacity of 48 megawatts and connect it to Pakistan’s national electricity grid. The project involves dam construction, water diversion, purification structures, excavation of the main water transport tunnel, powerhouse and discharge tunnel construction, and equipment, devices, and transmission line supply.

Meanwhile, the second agreement was concluded to establish the Jagran-IV Hydropower Project with a capacity of 22 megawatts and connect it to Pakistan’s national grid of electricity.

The project entails the construction of a dam, powerhouse, water diversion, and purification building, as well as the provision of