Federal Minister for Energy, Omar Ayub Khan, and President of Islamic Development Bank (IsDB), Dr. Bandar Hajjar, inaugurated the construction of the 113-kilometer electricity transmission lines from Pak-Afghan border to Nowshera under the South Asia Central Asia Regional Trade and Transmission Project (CASA-1000) in a virtual event.
Federal Secretary Power Division, Mr. Ali Raza, and senior officials of Power Division, representatives of development partners, UN agencies, and other key stakeholders also witnessed the occasion.
Speaking on the occasion, the Minister for Energy appreciated the efforts of Member countries, and the support of all sponsoring partners for financing the construction of power transmission lines infrastructure in Pakistan, Kyrgyzstan, and Tajikistan, under the CASA-1000 Project, in particular.
He added, “the project will support economic integration among four participating countries, through establishing the regional electricity connection, and creation of an integrated electricity market, and it will also positively contribute towards energy security since the energy mix of Pakistan has been strengthened through a substantial amount of cross border import and export of electricity.”
“CASA-1000 Project is not only a transformative development in economic and power sectors of Central Asia and South Asia, instead it is an inspiring model of how such development change can be best accomplished,” the Energy Minister said.
The Minister informed the participants that Pakistan had embarked upon taping huge indigenous potential of renewable energy. He said that Pakistan’s New Renewable Energy Policy would bring opportunities for investors due to the transparent policies of the current government.
He said that the government had set an ambitious target to introduce 25 percent renewable energy by 2025, and 30 percent by end of 2030, including a 40 percent share of hydel power generation into the energy mix of the country.
Addressing the online event, the IsDB President said that the CASA-1000 Project would bolster economic benefits and regional integration for Member Countries.
The CASA-1000 Project is a 1,270 km power transmission line that exports excess hydropower generated in Kyrgyzstan and Tajikistan to Pakistan through Afghanistan.
Transmission Components under the Project are being financed by IsDB, World Bank, European Investment Bank, European Bank for Reconstruction and Development, UK’s Department for International Development, and USAID at a total cost of $1.17 billion approximately.