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Monday, July 15, 2013
PM opens country's first hydropower IPP today
ISLAMABAD: Prime Minister Nawaz Sharif is scheduled to inaugurate the country’s first private hydropower independent power plant (IPP) in Mirpur, Azad Jammu and Kashmir today (Monday). The 84MW run-of-the-river New Bong Escape Hydropower Project would replace approximately 135,000 tonnes of oil import valued in excess of $100 million per annum. Laraib’s New Bong Escape Hydropower Project will contribute 540GWh of green energy annually into the national grid under a 25-year agreement with the National Transmission and Dispatch Company. This project will provide cheaper electricity and energy security to the country. Laraib Energy Ltd is a subsidiary of Hub Power Company (Hubco). Hubco is now also poised to be the first IPP to convert its power station to coal to provide even cheaper energy and save hundreds of millions of dollars being spent on oil imports every year. The project was scheduled to be completed in 42 months, itself a demanding target, but has been completed over two months earlier. inp
Courtesy www.dailytimes.com.pk
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