Galaxy Consortium, a group of power companies, has collaborated with provincial government of Khyber Pakhtunkhwa in Pakistan to invest $2bn to develop hydro power projects in the region.
The consortium and the government have signed a memorandum of understanding (MoU), under which they plan to add 1,000MW of hydro energy in the province.
The agreement was signed by Secretary Energy and Power Khalid Gillani and Galaxy Group chief executive Edward Brigham.
Projects will be developed through a public-private partnership (PPP) or build, own, operate and Transfer (BOOT).
Locations for the projects will be shortlisted by mutual agreement of the government and the company with provincial government providing one window facility to the consortium.