Pakistan to privatize energy sector, China will invest $6 billion

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The Pakistani government has decided to privatize companies engaged in power generation and power delivery, including publicly owned power plants as part of the country's new energy policy.

A final draft of Pakistan's new energy policy will be released by August 2013, according to the country's minister of water and power.

In June, Nawaz Sharif, the prime minister of Pakistan, released a new energy policy that promises new investments in the power generation sector to address power outages. In the new policy, the Islamic republic set a goal to increase its power generation capacity to a total of 26,800 MW over the next 3 years. The country currently can generate about 21,100 MW, mostly from fossil fuels and hydropower.

In other energy news from Pakistan, CWE Investment Corp. of China will invest $6 billion over the next 5 years in Pakistan's energy sector. The investment will take the form of several power generation projects, including the 1,100 MW Kohala Hydropower Project, the 720 MW Karot Hydropower Project, the 50 MW Punjab solar energy project and the Three Gorges Wind Farm, which has the option of being expanded to 350 MW.

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