Karot Hydropower Plant

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Karot Hydropower plant is the forth of the five power stations planned on Jhelum River. With installed capacity of 720 MW (4×180 MW), the average annual electricity output will be 3436 GWh. The project is part of the China-Pakistan Economic Corridor (CPEC), which is an under-construction $54 billion economic corridor in Pakistan aimed to connect trade in southern Pakistan with far-western China. The project includes the construction of a 95m high dam, four headrace tunnels and a new public bridge across the river, as well as a substantial spillway structure to manage flood flows. Karot Power Company Ltd, a project company, will implement the project under a 30-year BOOT contract. The project is promoted by China Three Gorges Corporation and Associated Technologies, holding 93 per cent and 7 per cent, respectively. Electricity generated at the hydropower station will be sold to Pakistan’s Central Power Purchasing Agency under a 30-year PPA. Financing represents approximately 80:20 debt to equity contribution. The IFC has provided an A-loan of $100 million. Furthermore, the Export-Import Bank of China and China Development Bank are also reported to have issued debt funding to the project company. However, no further details on the financing are available as of July 2017. Financial closure occurred on March 13, 2017. Construction of the Karot scheme is due to be completed in 2021. https://ijglobal.com/data/transaction/33403/karot-hydropower-plant-720mw-ipp https://www.karotpower.com/index.php?action=Project