ADB eyes Pakistan's Balakot hydropower plant financing
ADB is eyeing up a $300 million loan to back the $755 million 300MW Balakot run-of-river hydropower plant in Pakistan. While the DFI is the lead co-financier on the deal, it has yet to provide final approval.
The project, located on the Kunhar River in Masehra, Khyber Pakhtunkhwa, will produce around 1,143GWh of electricity each year. The construction period is 75 months.
Implementing agency Pakhtunkhwa Energy Development Organization (PEDO) is also expected to tap support from AIIB ($280 million loan), with financing approval scheduled for Q4, as well as the government of Pakistan ($175 million).
In November 2019, PEDO had issued an invitation for bids to design, supply, install, test and commission the project. The original deadline was 21 January but the deadline to submit bids is now 15 June.
