Dasu project funding increased by $700mn: World Bank

ISLAMABAD: The World Bank has approved an additional $700 million for the Dasu project now worth $1.3 billion to help Pakistan generate low cost, renewable energy and provide fill the existing gap.

By utilising the approved funds, a 255-kilometre-long power transmission line from the project site to Islamabad will be constructed to complete the first phase of 2,160MW production capacity.

Around 11,000 megawatts of additional capacity has been installed by Pakistan in the last five years and aims to move towards affordable renewable energy to power the national grid. The government plans to add about 18,000MW by 2028.

By boosting the power sector, electricity will be provided to millions of users and meet the demand.

In addition, allied industries especially manufacture and agriculture will also benefit from the project.

Currently, the estimated cost of generation is around $8.5 cents per kWh in the current fiscal year. Around 21% of electricity generated from imported liquefied natural gas (LNG)-based plants costs 13 cents per kWh and 22% from imported coal plants at 11 cents per kWh.

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