On Sunday, the Water and Power Development Authority (Wapda) of Pakistan and Sheikh Ahmed Dalmook Al Maktoum’s private office from the United Arab Emirates (UAE) signed two significant Memorandum of Understanding (MoUs) to collaborate on strategic projects in Pakistan’s energy sector.
The first MoU aims to develop a floating solar power project with a capacity of up to 1000MW on existing water reservoirs. The second MoU focuses on the rehabilitation, upgrading, and capacity enhancement of four hydro power projects, namely Renala, Rasul, Chichokimalian, and Nandipur.
As part of these agreements, both parties will assess the technical and economic feasibility of the projects and formulate an implementation plan.
Additionally, they plan to promptly approach the National Electric Power Regulatory Authority (Nepra) to seek a tariff structure specifically for floating solar power projects. This step is crucial in attracting the necessary investments outlined in the MoUs and providing the required support for the planned ventures.
Lieutenant General (R) Sajjad Ghani, Chairman of Wapda, and Sheikh Ahmed Dalmook Al Maktoum expressed their mutual interest and enthusiasm for long-term collaboration in Pakistan’s energy sector, with a particular emphasis on developing renewable energy solutions.
The MoUs establish a cooperative framework between Sheikh Ahmed Dalmook Al Maktoum’s private office and Wapda, facilitating collaboration and exploration of investment opportunities, especially in Wapda’s small hydro power projects.
The private office’s portfolio includes various privately and publicly held group companies operating primarily in sectors such as energy (both conventional and renewable), infrastructure, LNG, oil and commodity trading, healthcare, and agriculture.
In Pakistan, the private office has demonstrated its commitment to the energy sector through several investments, including the Oracle Energy Green Hydrogen project. Additionally, the private office has expanded its involvement in the infrastructure sector by forming a joint venture with AD Ports Group to focus on the operation and management of Karachi Gateway Terminal Limited.