France to provide €120m for hydropower project

January 18, 2023

The French government would lend €120 million in soft credit for the 128 MW Keyal Khuwar Hydropower Project situated in Khyber Pakhtunkhwa province. An agreement in this respect has been signed by Dr Kazim Niaz, Secretary of Economic Affairs, and Philippe Steinmetz, Country Director of the French Agency for Development. The project is situated close to the city of Pattan. It would assist Pakistan's Water and Power Development Authority (WAPDA) in fulfilling its responsibility to promote the hydroelectricity industry in Pakistan. The money would contribute to increasing the renewable energy sector's competitiveness, boosting affordability, and expanding the energy supply.

In accordance with France’s pledge and commitments made at the International Conference on Climate Resilient Pakistan, which took place in Geneva on January 9, 2023, the Keyal Khuwar project would contribute to the government's strategy to develop green energy, climate-friendly projects, and reduce greenhouse gas emissions. The French government has been working in Pakistan through the French Agency for Development, offering technical and financial help in the energy and urban development sectors in an effort to encourage green investment in the country.

Credit : Independent News Pakistan-WealthPk