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Private Power & Infrastructure
Board |
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Karot Hydropower Project |
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Salient Features |
Project Company |
Karot Power Company (Pvt.) Limited |
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Policy |
Power Policy 2015 |
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Category |
Commissioned |
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Sub Category |
CPEC |
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Main Sponsor |
China Three Gorges South Asian Investment Limited - CSAIL |
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Main Sponsor Shareholder |
99.84% |
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Other Sponsors |
Focus Power Investment Limited |
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Other Sponsors Shareholder |
0.16% |
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Lenders |
Export-Import Bank of China, China Development Bank, Silk Road Fund, International Finance Corporation (IFC), HBL (Inter-Creditor Agent) |
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Province |
AJK |
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Location |
Dual Boundary of District Rawalpindi, Punjab & District Kotli, AJK |
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River |
Jhelum River |
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Gross Capacity |
720MW |
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Net Capacity |
712.80MW |
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Technology |
Hydro Electric |
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Configuration |
1 x 4 Units (180) = 720 MW |
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Total Project Price (USD) |
1698.26Million |
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Debt Equity Ratio |
80:20 |
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Debt Amount USD |
1358.61Million |
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Equity Amount USD |
339.65Million |
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Levelized Tariff |
7.6152US c/kWh EPC Stage, 6.5/kWh (FS Stage) |
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Levelized CPP |
7.3044US c/kWh |
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Levelized EPP |
0.3108US c/kWh |
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1-10 Years Tariff |
8.9708US c/kWh |
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11-30 Years Tariff |
4.0032US c/kWh |
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Power Purchaser |
Central Power Purchasing Agency (Guarantee) Limited (CPPA-GL) |
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Term of Project |
30Years |
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Primary Fuel |
Hydro |
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Fuel Supplier |
N/A |
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EPC Contractor |
(i) Yangtze Three Gorges Technology & Ecnomic Development Co. Ltd (ii) China Machinery Enginnering Coorporation - CMEC |
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Owner's Engineer |
SMEC Australia |
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Net Efficiency |
96% (Estimated) |
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Annual Availability |
50.83% |
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Annual Energy Yields |
3174GWh |
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Important Events |
Submission of Proposal |
30-AUG-2006 |
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Approval of PPIB Board |
08-FEB-2007 |
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Issuance of Notice to Proceed |
15-MAR-2007 |
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Submission of PG@US$ 1000/MW |
13-APR-2007 |
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PG Validity |
12-OCT-2009 |
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Issuance of LOI |
19-MAY-2007 |
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Generation License Application |
26-NOV-2013 |
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Tariff Determination |
27-APRIL-2016 11-DEC-2012 (FS) |
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Submission of PG@US$ 5000/MW |
10-JUL-2013 |
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Date of issuance of LOS |
29-AUG-2013 |
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Implementation Agreement |
08-SEP-2016 |
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Direct Implementation Agreement |
15-DEC-2016 |
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Power Purchase Agreement |
30-AUG-2016 |
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Water Use Agreement |
28-SEP-2016 (AJK WUA), 25-OCT-2016 (Punjab WUA) |
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EPC Contract |
09-FEB-2015 |
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Financing Documents |
15-DEC-2015 |
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Achievement of Financial Close |
22-FEB-2017 |
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Partial Commissioning 1 |
28-MAY-2021 |
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RCOD |
22-AUG-2022 237 days extension in RCOD was provided to the project from 28 Dec 2021 due to Covid-19. (Revised RCOD: 22nd AUG 2022) |
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Expected COD |
02-AUG-2022 |
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COD |
29-JUN-2022 Commissioned |
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