PESHAWAR: The Khyber Pakhtunkhwa government on Tuesday issued three letters of intent (LOIs) to EnerTech Holding, a state-owned entity of Kuwait, to execute renewable energy projects to help achieve sustainable urban growth in the province.
EnerTech Holding had signed multiple memoranda of understanding with the Khyber Pakhtunkhwa government at the Dubai Expo 2020, including the development and implementation of green hydrogen, urban development, food processing and integrated tourism zones (ITZs).
The LOIs were issued at a ceremony chaired by Chief Minister Mahmood Khan, according to a statement. The Kuwaiti company will invest $250 million in establishing two green hydrogen projects on run-of-the-river hydel plants of Pakhtunkhwa Energy Development Organisation to produce green hydrogen and green ammonia.
The proposed project sites include 84MW Matiltan hydropower project and 69MW Lawi hydropower project. The company will also invest $750 million to build a satellite and smart city in Khanpur. The project on completion is expected to bring huge investment and generate economic activities in the province. Speaking on the occasion, Mahmood Khan said his government had signed 44 MoUs worth $8 billion with foreign investment companies at the Dubai Expo. He appreciated EnerTech Holding for making investment in the province and said the provincial government would extend all-out support to the company.
The chief minister said the Kuwaiti investment would open new avenues of foreign investment, adding green hydrogen plants would prove to be a milestone in promoting environment-friendly energy.
Published in Dawn, June 8th, 2022