 WAPDA awarded the contract to MIRA Power Limited, a subsidiary of Korean company KOSEP, an independent power producer (IPP) being developed in private sector on BOOT basis (Build, Own, Operate and Transfer) under Government of Pakistan Policy for Power Generation Projects 2002 as adopted in Azad Jammu & Kashmir.The project has the capability of generating an average annual energy of 465 GWh.Gulpur Hydropower Project is the third independent hydropower project in Pakistan.