Food firm intends to tap hydropower potential

KARACHI: Ismail Industries Limited, a leading confectionery firm, expressed interest in generating hydropower of an estimated 40.1 megawatts in Khyber Pakhtunkhwa, which accounts for half of the country’s untapped run-of-the-river electricity potential. 

The company, in a notice issued to the Pakistan Stock Exchange on Wednesday, said it would submit an expression of interest to tap the hydropower potential at a semi-raw site in the province. It said it intends to acquire the site in Ayun valley (15.7MW) and Barum stream (24.93MW) in Chitral. 

The project will be developed under Khyber Pakhtunkhwa Hydro Power Policy 2016. The provincial government has formulated the policy to attract investments in the development of renewable energy sector in the province. 

Pakistan has a hydropower potential of around 60,000 megawatts; of that only 6,600MW has been tapped so far. Nearly half of all the hydroelectricity is produced in Khyber Pakhtunkhwa. The province has an estimated hydropower potential of around 30,000MW. 

While most of the hydropower projects, which are at the under development stage, are in the public sector, the provincial government has embarked on a multi-pronged strategy to develop projects under public-private partnership model.

The semi-raw sites are actually the locations for which prefeasibility studies have already been conducted. The studies have identified the sites for having hydropower potential.   The provincial government solicited proposals, through advertisements, from parties interested to develop the sites. The projects would be awarded to applicant after the completion of scrutiny.

Pakhtunkhwa Energy Development Organization will issue the letter of intent to a qualified company for carrying out the feasibility study.

Ismail Industries Limited is one of the largest food companies in Pakistan, manufacturing a wide range of confectionery, biscuits, snacks and packaging films under the brand names of CandyLand, Bisconni, SnackCity and Astro Films.