ISLAMABAD: The Private Power and Infrastructure Board (PPIB) approved expansion of 960 megawatt of Tarbela dam power project at an estimated cost of US 500 million dollars as part of government’s policy to generate cheaper electricity for people of the country. The decision was made in the 72th meeting of the PPIB Board chaired by Liaquat Ali Jatoi, Federal Minister for Water and Power, held here on Thursday. This would be fourth extension of Tarbela hydropower project which will be completed within shortest possible time.
The Board also approved that feasibility study of the 960 megawatt expansion project would be carried out by Tarbela Hydro Limited and Associates. Besides other senior government officials Advisor to the Prime Minister on Energy, Advisor Ministry of Water and Power, Managing Director PPIB, Member Power WAPDA also attended the meeting. On this occasion, the Board also approved setting up of hydropower project of 139 megawatt of Chakotti Hattian Hydropower project located in Azad Jammu and Kashmir estimated to start commercial operation by 2015.
The meeting was informed that PPIB has recently signed and initialed Implementation Agreements (IAs) with five companies totaling 992 megawatt, while four IAs totaling 715 megawatt are ready for initialing. The IAs initialed include 165 megawatt Attockgen by Attock Group of companies, 225 megawatt Atlas Power of Shirazi Group, 202 megawatt Foundation Power a company of Fuji Foundation and, 200 megawatt Nishat Chunian and 200 megawatt Nishat Power by Nishat Group.
PPIB’s major role is to facilitate power sector investors for establishing IPPs in the country and enter into Implementation Agreements (IAs) with them, it was further informed. The meeting was told that currently the portfolio of projects being processed by PPIB includes 59 power projects totaling 15,000 megawatt with an investment outlay of US 13.8 billion dollars. Of the 15,000 megawatt, 5138 megawatt will be Hydel, 4603 megawatt will use Oil, 1600 megawatt will be based on Pipeline Gas/Oil/LNG, and 1174 megawatt will be generated from dedicated gas while 2550 megawatt will be generated from Coal. As per estimated schedules, 831 megawatt will be available to the national grid by 2008, adding another 2627 megawatt and 3734 megawatt by 2009 and 2010 respectively. The system will be having a total capacity of 7192 megawatt by 2010.
The meeting was told that all milestones to achieve the targeted Commercial Operation Dates (COD) of the projects are being achieved in timely manner, while PPIB has issued Letters of Interest (LOIs) to 32 projects totaling 8276 megawatt and Letters of Support (LOSs) to14 projects with a cumulative capacity of 2590 megawatt, the Implementation Agreements of nine projects for 1700 megawatt are either signed or ready for signature. Jatoi advised that all fast track projects should be dealt diligently and project sponsors should be given maximum facilitation. Power is a prime mover of the economy, and we should put in all our sincere efforts to develop the power sector of the country, he added. He appreciated the efforts of Managing Director PPIB Mohammad Yousuf Memon and his team for playing a pivotal role in concluding the agreements with the sponsors in an efficient and speedy manner.-SANA