{"PSW_Id":349,"Project_Id":15009,"Total_Project_Cost":"107,790,000.00","IFC_OA_Commitment":"To be updated at commitment","Commercial_CoFinancing_Commitment":"To be updated at commitment","DFI_CoFinancing_Commitment":"To be updated at commitment","PSW_Insert_Date":"2026-01-26T23:23:39.647","PSW_Update_Date":"2026-04-30T12:31:12.253","PSW_Inserted_By":"Naveen Kumar Sandhanam","PSW_Updated_By":"Naveen Kumar Sandhanam","Facilities":[{"PSW_Facility_BoardApprovalAmount_Id":3116,"PSW_Facility_Id":1,"Board_Approval_Amount":"18,300,000.00","Is_Checked":true,"Sequence":1,"BoardApproval_Insert_Date":"2026-04-30T16:31:12.267","BoardApproval_Update_Date":"2026-04-30T16:31:12.267","BoardApproval_Inserted_By":"Naveen Kumar Sandhanam","BoardApproval_Updated_By":"Naveen Kumar Sandhanam","Facility_Details":{"PSW_Facility_Id":1,"PSW_Facility_Name":"IDA21-PSW BFF","Facility_Insert_Date":"2025-05-09T23:50:38.840","Facility_Update_Date":"2025-05-09T23:50:38.840"}},{"PSW_Facility_BoardApprovalAmount_Id":3117,"PSW_Facility_Id":2,"Board_Approval_Amount":"20,660,000.00","Is_Checked":true,"Sequence":2,"BoardApproval_Insert_Date":"2026-04-30T16:31:12.393","BoardApproval_Update_Date":"2026-04-30T16:31:12.393","BoardApproval_Inserted_By":"Naveen Kumar Sandhanam","BoardApproval_Updated_By":"Naveen Kumar Sandhanam","Facility_Details":{"PSW_Facility_Id":2,"PSW_Facility_Name":"IDA21-PSW RMF","Facility_Insert_Date":"2025-05-09T23:50:38.840","Facility_Update_Date":"2025-05-09T23:50:38.840"}},{"PSW_Facility_BoardApprovalAmount_Id":3118,"PSW_Facility_Id":3,"Board_Approval_Amount":"","Is_Checked":false,"Sequence":3,"BoardApproval_Insert_Date":"2026-04-30T16:31:12.393","BoardApproval_Update_Date":"2026-04-30T16:31:12.393","BoardApproval_Inserted_By":"Naveen Kumar Sandhanam","BoardApproval_Updated_By":"Naveen Kumar Sandhanam","Facility_Details":{"PSW_Facility_Id":3,"PSW_Facility_Name":"IDA21-PSW LCF","Facility_Insert_Date":"2025-05-09T23:50:38.840","Facility_Update_Date":"2025-05-09T23:50:38.840"}},{"PSW_Facility_BoardApprovalAmount_Id":3119,"PSW_Facility_Id":4,"Board_Approval_Amount":"3,200,000.00","Is_Checked":true,"Sequence":4,"BoardApproval_Insert_Date":"2026-04-30T16:31:12.410","BoardApproval_Update_Date":"2026-04-30T16:31:12.410","BoardApproval_Inserted_By":"Naveen Kumar Sandhanam","BoardApproval_Updated_By":"Naveen Kumar Sandhanam","Facility_Details":{"PSW_Facility_Id":4,"PSW_Facility_Name":"CCW-IDA21","Facility_Insert_Date":"2025-05-09T23:50:38.840","Facility_Update_Date":"2025-05-09T23:50:38.840"}},{"PSW_Facility_BoardApprovalAmount_Id":3120,"PSW_Facility_Id":5,"Board_Approval_Amount":"","Is_Checked":false,"Sequence":5,"BoardApproval_Insert_Date":"2026-04-30T16:31:12.410","BoardApproval_Update_Date":"2026-04-30T16:31:12.410","BoardApproval_Inserted_By":"Naveen Kumar Sandhanam","BoardApproval_Updated_By":"Naveen Kumar Sandhanam","Facility_Details":{"PSW_Facility_Id":5,"PSW_Facility_Name":"None","Facility_Insert_Date":"2025-05-09T23:50:38.840","Facility_Update_Date":"2025-05-09T23:50:38.840"}}]}

IFC as the implementing entity of the IDA21 PSW BFF and IDA21 PSW RMF, and for its own account under IFC’s CCW-IDA21 is expected to provide up to US$21.3 million in the form of a Senior Loan and up to US$20.66 million in the form of Political Risk Insurance issued by MIGA as IDA21 PSW RMF Administrator for the IFC A Loan (“blended concessional finance co-investments”). Without the blended concessional finance co-investments, the development of Timor Leste’s greenfield solar PV and BESS plant, which will significantly lower generation costs, will not be achievable due to project completion, political and macroeconomic risks. The level of concessionality (i.e., “subsidy”) provided by the blended concessional finance co-investments is estimated to be 8% of the total project cost of US$106.3 million. This estimate is based on the difference between (i) a “reference price” (either a market price if available; the price calculated using IFC’s pricing model, which comprises three main elements: risk, cost and profit; or a negotiated price) and (ii) the “concessional price” being charged by the blended concessional finance co-investment. IFC will disclose, through the SII and a publicly accessible IDA webpage: (a) IFC’s own account commitment amounts at approval; (b) co financing amounts at approval, disaggregated by Development Finance Institution (DFI) and third parties; and (c) a qualitative description of AIMM outcomes at project closure, without reference to individual indicators. As is the case with all of IFC’s blended concessional finance co-investments, this project has been assessed against the Enhanced Blended Concessional Finance Principles for DFI Private Sector Operations adopted by IFC and more than 20 other DFIs in 2017. Further information on these Principles, IFC’s blended finance approach and governance, and historical information on estimated subsidy levels in IFC’s blended finance portfolio can be found at: www.ifc.org/blendedfinance.

23.17 million (USD)

Product Line	IFC Investment (million USD)
Risk Management	1.0
Guarantee
Loan	22.17
Equity

* These investment figures are indicative

The project is expected to provide energy at competitive tariffs, displacing costly imported fuel-based generation, reduce greenhouse gas emissions, and enable Timor-Leste to advance toward achieving its renewable energy targets. By demonstrating a viable private IPP model for solar PV plus battery storage, the project is expected to facilitate greater integration of variable renewable energy, strengthen the financial resilience of the sector, and support diversification of the energy mix.

IFC additionality is expected to be both financial and non-financial. Financial additionality is derived from the financing structure and additional capital mobilization. Non-financial additionality includes non-commercial risk mitigation and E&S standard setting.

Indicator	Metrics	Comments
Renewable Energy Generated	GWh

This is a Category B project according to IFC's Policy on Environment and Social Sustainability (2012). Based on information reviewed by IFC, the proposed project will have limited adverse E&S impacts that are few, site-specific, largely reversible and readily addressed through existing mitigation measures and good international industry practices (GIIP). Key issues include the sponsor’s E&S capacity to manage EPC contractor, emergency preparedness and response, labor and working conditions, supply chain risks, and construction impacts such as water runoff, erosion, air emissions, and dust. Additional concerns are the project’s proximity to sensitive ecological areas, risks of flooding and erosion due to low site topography, land access and economic displacement.

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