ISLAMABAD, JULY 10 (DNA) : The German government, through KfW Development Bank, has announced a significant investment of €27 million for the construction of a new substation at the Gharo Wind Corridor in Pakistan. Yesterday, Siemens Energy, in partnership with the National Grid Company of Pakistan (NGCP), officially signed a contract to commence construction work on the substation. The €27 million funding, provided by KfW will play a crucial role in evacuating power generated from the Gharo Wind Corridor, supporting the transition towards a more resilient and sustainable energy system.
Under the umbrella of the Pakistan-German Climate Energy Partnership (PGCEP) the project aims to enhance Pakistan’s energy transmission network and facilitate the integration of clean, sustainable energy into the national grid, overcoming existing system constraints. In addition to its environmental impact, the initiative is expected to create numerous jobs, stimulate local economic growth, and contribute to a more stable and sustainable power supply across the country.
Speaking on the occasion, Mr. Sebastian Jacobi, Country Director KfW reaffirmed the support to the Government of Pakistan for achieving its goal to mitigate the impacts of climate change and increase the provision of the clean and renewable energy for the socio-economic development of the country.
Janine Rohwer, Counsellor at the German Embassy emphasized the relevance of this projects for the IMF-supported economic reforms: Improvement of the transmission network is part of the cost-side reforms to which Pakistan has committed under the Extended Fund Facility of the IMF, a programme which Germany is looking forward to seeing Pakistan complete successfully.
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