An interim agreement has been signed for the purchase of power from the Neelum Jhelum hydropower project in Pakistan, with the developers Water and Power Development Authority (WAPDA) hoping this will boost the confidence of international lenders and donors to support the project.
The tripartite Interim Power Purchase Agreement (PPA) was signed this week between Central Power Purchasing Agency (Guarantee) Limited (CPPAG), Neelum Jhelum Hydropower Company Limited (NJHPCL) and Water and Power Development Authority (WAPDA). CPPAG CEO Abid Latif Lodhi, NJHPC CEO Engineer Brigadier (Retd) Muhammad Zareen and WAPDA Member (Power) Javed Akhter attended the signing ceremony.
With the PPA in place, NJHPCL will be able to raise invoices on account of energy delivered to National Grid with effect from July 4, 2018 – more than 6.3 billion units of electricity – translating into financial gains of Rs.57 billion.
All four units of Neelum Jhelum are operational and generating electricity according to availability of water.