The US company Synergies Energy Development Inc. has announced plans to build a 750 MW hydropower project in Pakistani-controlled Kashmir. The scheme is expected to cost $1.4 billion to complete.

Synergies Energy has already begun a $6 million feasibility study into the development. It claims the plant could be completed in five years.

Under terms being discussed with the Pakistan government, the US company will own the project for 20 years, selling power to the Pakistan national grid. After that, ownership would be transferred to Pakistani control.