ISLAMABAD : Korea South-East Power Co. Ltd. (KOEN), a subsidiary of Korea Electric Power Corporation (KEPCO), has dispatched a high-level delegation to Islamabad to seek government support for two hydropower projects currently stalled due to unresolved tariff issues with the National Electric Power Regulatory Authority (NEPRA).
KOEN, which maintains a global generation capacity of 83,000 MW and an asset base of $175 billion, has expressed concerns over the prolonged delay in the approval process.
In a letter addressed to Deputy Prime Minister and Foreign Minister, KOEN’s Branch Manager Park Changhark reaffirmed the company’s commitment to supporting Pakistan’s energy sector through foreign direct investment. He emphasized KOEN’s goal of delivering “reliable, cost-effective, and environmentally responsible energy solutions” aligned with the Government of Pakistan’s (GoP) vision.
KOEN first entered Pakistan’s energy market with the successful commissioning of the 102 MW Gulpur Hydropower Project, inaugurated by former Prime Minister Mian Muhammad Nawaz Sharif on October 15, 2015. The $350 million project has been a significant contributor to Pakistan’s renewable energy capacity.
Building on this success, KOEN initiated two major projects—229.4 MW Asrit Kedam and 238 MW Kalam Asrit hydropower plants—in 2017–2018 under GoP’s power policy framework. The combined investment was projected at $1 billion.
According to the company, KOEN has spent approximately $20 million on bankable feasibility studies, secured all necessary No Objection Certificates (NOCs), and obtained generation licenses. Despite fulfilling all regulatory requirements, both projects have remained inactive for the past three years due to pending tariff petitions submitted to NEPRA in June 2022.
“Our relentless efforts have not yet translated into progress, and we are seeking clarity on the regulatory delays,” said Park.
A delegation from KOEN headquarters is visiting Pakistan from July 1–4, 2025, to engage with relevant authorities and push for resolution on the matter. Please also read the following stories.
