Islamabad, The Saudi Fund for Development (SFD) has signed agreements to finance two hydroelectric projects in Azad Jammu and Kashmir (AJK), marking a significant move under its Green Energy Drive initiative. These projects are set to enhance the region’s power generation capacity and contribute to the national grid.
According to Ministry of Information and Broadcasting, the SFD delegation, led by CEO Sultan bin Abdulrahman Al-Marshid, finalized the funding for the Shounter Hydro Project and the Jagran-4 Hydro Project during their visit to AJK. The Shounter project, with an investment of 66 million dollars, will produce 48 megawatts of electricity, while the Jagran-4 project will generate 22 megawatts with a 41 million dollar investment, collectively adding 70 megawatts to the national grid.
The Special Investment Facilitation Council was instrumental in the realization of these agreements, indicating a strategic push towards renewable energy development in the region.