He directed officials of the energy and power department to finalise arrangements for the purpose.
The chief minister disclosed it during a briefing on the Balakot hydropower project, according to a statement issued here.
The meeting was attended by adviser to the chief minister on energy and power Himayatullah Khan, energy and power secretary Zubair Khan, chief executive officer of Pakhtunkhwa Energy Development Organisation Mohammad Naeem Khan and other relevant officials.
Officials informed Mr Mahmood about the progress on the project and said the project contract had been awarded, while agreement would be signed with the contractor soon.
They said the 300MW power project was being set up on the Kunhar River in Mansehra district with the assistance of the Asian Development Bank at an estimated cost of Rs85 billion.