By Ayesha Saba ISLAMABAD, April 18 (INP-WealthPK): Karot Hydropower Project, the first hydropower project under the China-Pakistan Economic Corridor (CPEC), reached a major milestone as it successfully lifted its fourth and final rotor at the powerhouse, bringing it closer to the commercial operation date (COD). The Chinese embassy in Pakistan also congratulated Pakistanis last week on the completion of a massive project under the CPEC. The National Electric Power Regulatory Authority (NEPRA) has declared the 720MW Karot Power Project among the top performers which were announced at the NEPRA CSR (corporate social responsibility) awards ceremony. Pakistan is a country with abundant hydropower resources, and the government is keenly facilitating private investors to promote hydropower generation in the country. A spokesperson of hydropower projects under the Private Power & Infrastructure Board (PPIB), who wished to remain anonymous, while speaking to WealthPK said that in Pakistan, the electricity and power generation is one of the most imminent challenges to economic uplift and industrial advancement. “Pakistan and China's leadership are devoted to a green, clean, and sustainable future energy. Karot Hydropower Project, which is a major project under the CPEC, once operational, will generate 3.2 billion kilowatt-hours of electricity,” said the official. “The project is expected to be operational in June, two months before the actual COD, as mostly the work on project has been completed,” he said. The official said the project will help plug the power gap in the country. He said this project, like other energy projects, employs a large number of people and directly creates job opportunities, and has the potential to boost economic activity in the surrounding areas. “During the fourth quarter of 2019, out of the total Pakistani workers, 58% were hired from project districts i.e., Rawalpindi in Punjab province, Kotli and Sudhnoti in Azad Jammu and Kashmir (AJK),” he said. “Karrot power company has developed a Community Investment Plan (CIP) to ensure the project benefits are shared fully with local communities around the project. The CIP implementation is in progress including the construction of a new emergency block in Tehsil Headquarters (THQ) Hospital at Kahuta, rest houses in nearby areas, local parks for the community, and polytechnical institutes,” the PPIB official said. The official said Karot Project developers recognized the importance of biodiversity, and they are working to safeguard two adjacent national parks that are Murree-Kahuta-Kotli Sattian (MKKS) National Park and Azad Pattan National Park. These two national parks are included in the catchment area of the reservoir of Karot Hydropower Project. Karot Hydropower Project is being constructed by China Three Gorges Corporation, one of the world's largest renewable energy firms, on the Jhelum River, which runs through AJK and Punjab, and is located in Tehsil Kahuta in Punjab province and district Kotli in AJK. It will generate 3,174GWh (net) of energy a year, which will be sold to the National Transmission and Despatch Company (NTDC) under a 30-year power purchase agreement. The generated power will be sufficient to power approximately seven million households. The foreign direct investment (FDI) under the umbrella of CPEC is a major opportunity for Pakistan, especially in the arena of resolving Pakistan’s energy crisis. Hence, CPEC includes the construction of many power production projects. The electricity, thus produced, will also help in addressing energy shortfalls in the country as energy will be used to achieve the vital policy objectives of economic advancement and poverty alleviation.