The Korea Hydro & Nuclear Power Corp. (KHNP) announced on Oct. 5 that it has been awarded the contract to construct the US$350 million 350-MW Athmuqam hydropower plant on the Neelum River about 210 km northeast from Islamabad in Pakistan.
Pakistan’s Private Power Infrastructure Board (PPIB), the governmental organization in Pakistan in charge of local infrastructure development projects, published a tender for the project in January and awarded the contract to KHNP.
KHNP submitted its expression of intent in March after forming a consortium with South Korea-based companies Daelim Industrial and Lotte Engineering & Construction.
According to the contract, the agreement is based on a build-operate-transfer basis in which the consortium will operate and maintain the plant for 30 years and then transfer its rights to the Pakistani government.
The amount and details of any power purchase agreement are not immediately available.
The project is being implemented under the Pakistani government’s policy for Power Generation Projects 2002, which provides incentives to private sector investment in power projects.
According to KHNP, it expects this contract to lead to its involvement in the proposed 496-MW Lower Spat Gah hydropower project also being launched by the PPIB.
According to the Pakistan Water & Development Authority, the US$1 billion project will be built 8 km downstream from Dasu in the province of Khyber Pakhtunkhwa, located on the left bank tributary of the River Indus. It will annually generate 2,007 GWh.
KHNP is a subsidiary of Korea Electric Power Corp. operating as an electric power generating company. It owns and operates nuclear, conventional hydropower, pumped-storage hydropower, fuel cell, solar and wind power generating facilities.
KHNP is based in Gyeongju, South Korea, and had branches in Fort Lee, N.J., USA, and Paris, France.