Incorporated in Pakistan, Triconboston Consulting Corporation (Private) Limited (Triconboston or the Company) is a special purpose vehicle set up for the development and operations of the Project. The Company is currently 100%-owned by Sapphire Textile Mills Limited, the locally listed flagship company of the Sapphire Group. Shareholders at Financial Close are expected to comprise of: (i) the Sapphire Group through four affiliates: Sapphire Textile Mills Limited (55%), Sapphire Finishing Mills Limited (5%), Diamond Fabrics Limited (5%) and Sapphire Fibre Limited (5%); (ii) Bank Alfalah Limited (19%) and (iii) Baltoro Growth Fund (11%).

Founded in 1969, the Sapphire Group is a large, well-established and reputable business group in Pakistan, historically focused on export-oriented textile manufacturing and trading businesses. Building on its experience of developing and operating over 100 MW of captive power generation facilities, the Group has ventured into building a portfolio of private power generation assets, where its first 225MW CCGT IPP was commissioned in 2010, and a 52.8MW wind power project went into operations in 2015. The Group is currently developing a growing pipeline of clean and renewable energy projects including the Project, with an aim to become a leading power developer in Pakistan.

Bank Alfalah Limited is the fifth largest private bank in Pakistan, with a 6.5% market share in terms of total assets. The Bank operates a network of 653 branches that includes 158 Islamic banking branches, 10 overseas branches and a wholesale banking unit in Bahrain. The bank provides a full range of financial solutions to retail and institutional clients through a broad spectrum of products and services including corporate, investment and merchant banking, consumer banking and credit, securities brokerage and commercial financing. IFC holds a 15% equity stake in the bank.

Focused on mid-cap investments in Pakistan, Baltoro Growth Fund is a newly established US$48 million private equity fund, backed by Bank Alfalah Ltd. and the United States Agency for International Development (USAID) as the LPs.

The total Project Cost is estimated up to US$335 million and is proposed to be funded with a debt to equity ratio of 75:25. IFC is considering to invest up to US$75.0 million in the form of an A Loan.

75.0 million (USD)

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	75.0
Equity

* These investment figures are indicative

The Project is located over an area of 3,852 acres (already acquired via lease) in the Jhimpir Wind Corridor, Thatta district of Sindh province in south-eastern Pakistan, about 100 km east of Karachi.

IFC''s participation in this Project is expected to:
- Add incremental generation capacity to address the current power supply shortfall in Pakistan
- Support diversification of the energy mix through development of renewable energy to serve as a sustainable source of power generation
- Contribute to economic growth and employment by way of incremental supply of power
- Reduce greenhouse gas emissions by an estimated 226,911 tCo2 per annum, in addition to generating certified emission reduction (CERs) under the clean development mechanism of the Kyoto Protocol.
- Build local experience and expertise in development of renewable energy projects by supporting a local sponsor, who is on track to emerge as a large player in the renewable power sector in Pakistan

1. Provide sustainable long term financing for the development of a large renewable energy project, which is not easily available in the local market
2. Mobilize additional long-term financing from other financial institutions to support the Project and reach financial close.
3. Promote IFC''s E&S Performance Standards and ensure the Project operates with best practice E&S standards.

Indicator	Metrics	Comments	Calendar Year 2022	Calendar Year 2023	Calendar Year 2024
Direct Employment (#) - Operations and Maintenance	Employment (#)		Not Available	Not Available	Not Available

In accordance to IFC’s Environmental and Social Review Procedure (ESRP) and Policy on Social and Environmental Sustainability (PSES) the project is categorized as a Category B project because a limited number of specific environmental and social impacts may result, which can be avoided or mitigated by adhering to generally recognized performance standards, guidelines or design criteria.



The key environmental, social, and health and safety (ESHS) risks and impacts of the project include: (i) earth movements, vegetation cover removal, and soil erosion associated with excavation and the operation of construction equipment, (ii) occupational health and safety (OHS) risks to construction workers, and (iii) OHS risks to maintenance workers, (iv) potential health and safety risks to the nearby communities associated with dust emissions, high noise levels and blade throw, and (v) permanent landscape modifications.

Please refer to the related Environmental and Social Review Summary (ESRS) document for this project.

Please refer to the Environmental and Social Action Plan (ESAP) tab in the related Environmental and Social Review Summary (ESRS) document for this project.