A delegation from the Saudi Fund for Development (SFD) recently visited Azad Jammu and Kashmir as part of a green energy initiative. Led by the Fund's CEO, Mr. Sultan bin Abdulrahman Al-Marshid, the delegation signed agreements to finance two Hydro Power Projects in the region.
The Special Investment Facilitation Council (SIFC) played a pivotal role in facilitating these agreements.
The funding, totaling $101 million, will support the Shounter and Jagran 4 Hydro Projects. The Shounter project, estimated at $66 million, aims to generate 48 megawatts of electricity, while the Jagran 4 project, costing $41 million, will produce 22 MW of electricity.
Together, they will contribute 70 megawatts to the national grid, bolstering the country's green energy efforts.
These projects will signify a step forward in green energy, also promise affordability for domestic, industrial, and commercial consumers in Azad Jammu and Kashmir.
