The 84MW project commissioned by Hubco’s subsidiary Laraib Energy was funded by Asian Development Bank (ADB).
Also, the project is marked as the first independent hydropower project of the country.
New Bong hydropower plant is located on the Upper Jhelum River and it has the annual production capacity of 540GWh.
Commenting on the developments Hubco CEO Zafar Iqbal Sobani said that the project would secure the electric requirement of the country providing cheaper electricity.
"Other benefits of the run-of-the-river hydropower project include replacement of some 135,000 tons of oil imports valued in excess of $100 million per annum and reduction in carbon emissions," added Sobani.
Meanwhile, the energy produced at the plant will be procured by National Transmission and Dispatch Company (NTDC) as a part of 25-year agreement inked by both the parties.
