In a significant development, the World Bank has greenlit an additional $1 billion in funding for the expansion of the Dasu Hydropower Project in Khyber Pakhtunkhwa’s Upper Kohistan district.
The approved financing aims to bolster hydropower electricity supply, enhance access to socio-economic services for local communities, and enhance the Water and Power Development Authority’s (Wapda) capacity to undertake future hydropower initiatives.
The Dasu project, hailed as a potential game-changer for Pakistan’s energy sector, is poised to significantly reduce the nation’s dependence on fossil fuels, with estimates suggesting potential annual savings of $1.8 billion and a substantial reduction in carbon emissions.
Upon completion, the project will substantially augment Pakistan’s renewable energy capacity, marking a significant stride towards a greener and more sustainable energy landscape.