In the midst of Pakistan’s ongoing power crisis, the Water and Power Development Authority (WAPDA) and the United Arab Emirates’ (UAE) Sheikh Ahmed Dalmook Al Maktoum’s private office signed two important Memorandum of Understanding (MoU) on Sunday to work together on strategic energy projects.

In the first MoU, a floating solar power project of up to 1000 MW will be developed on existing water reservoirs, while in the second MoU, four hydropower projects, Renala, Rasul, Chichokimalian, and Nandipur, will be rehabilitated, upgraded, and enhanced.

The parties will formulate an implementation plan following an assessment of the projects’ technical and economic feasibility.

Furthermore, they intend to seek a floating solar power tariff structure from the National Electric Power Regulatory Authority (NEPRA) as soon as possible. Support for the planned ventures will be provided by this step in order to facilitate the necessary investments outlined in the MoUs.

The chairman of Wapda, lieutenant general (retired) Sajjad Ghani, and Sheikh Ahmed Dalmook Al Maktoum, expressed interest and enthusiasm in collaborating on long-term projects in Pakistan’s energy sector, specifically developing renewable energy sources.

In the MoUs, the private office and WAPDA establish a cooperative framework for collaboration and investment exploration, particularly in small hydropower projects.

Private office portfolio includes privately and publicly owned companies operating in sectors such as energy (both conventional and renewable), infrastructure, LNG, oil and commodity trading, healthcare, and agriculture.

Private office investments in Pakistan include the Oracle Energy Green Hydrogen project, which demonstrates the company’s commitment to the energy sector. By forming a joint venture with AD Ports Group, the private office has expanded into the infrastructure sector, focusing on the operation and management of Karachi Gateway Terminal Limited.