China International Water and Electric Corporation (CWE), a state-owned company, announced an upcoming investment of US$6bn in energy projects in Pakistan over the next five years. The group did not provide details on the investment, except that US$2bn would be invested in energy projects in Karachi. CWE is already planning nine projects in Pakistan; the group is conducting a feasibility study for 720 MW Karot hydropower project (already approved by the National Electric Power Regulatory Authority); its construction will take five years. CWE is also involved in the 1,100 MW Kohala hydropower project, which is in initial development stages, and aims to start construction work in 2015. In late June, CWE received approval for its 120 MW Taunsa hydropower project in Punjab; construction will start in 2015 and will be completed in four years. CWE will also invest in renewables: the group has received a positive assessment for a 50 MW solar power project in Punjab, and is developing another 50 MW solar power project will be set up in Sindh.