30145 - Tenaga Generasi Limited

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Summary of Proposed Investment

Project Number

30145

Company Name

TENAGA GENERASI LIMITED

Date SPI Disclosed

Nov 12, 2012

Country

Pakistan

Industry

Infrastructure

Projected Board Date

Dec 15, 2012

Status

Active

Sector

Wind Power - Renewable Energy Generation

Department

Regional Industry INF MCT

Environmental Category

B - Limited

Previous Events

Approved : Jan 29, 2015
Signed : Mar 7, 2015
Invested : Jul 28, 2015

Project Description

Tenaga Generasi Limited (TGL or the Company) is developing a 49.5MW wind power project located over 19.75 km2 area in Gharo, District Thatta, Sindh province, Pakistan. The project involves engineering, design, procurement, construction, turbine erection, grid tie-in, commissioning and operation & maintenance of the 49.5MW wind power generation facility (the Project).
The Project will be an independent power producer and will sell electricity to the National Transmission and Despatch Company Limited (NTDC) under a 20-year Energy Purchase Agreement (EPA). NTDC’s payment obligations under the EPA will be guaranteed by the Government of Pakistan.
The Project’s site area has favorable wind resources, expected to generate an annual average of 156 GWh of electricity at 36.0% plant factor (based on the independent engineer’s estimates).

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	22.0
Equity	7.50

Development Impact

The Project will i) promote the use of renewable energy sources for power generation in Pakistan by providing zero emission power; ii) contribute to diversification of the existing generation mix by reducing the use of fuel oil; iii) help channelize local investment in the development of renewable energy in Pakistan as the Project is one of the first to be developed by a large local business group; iv) generate Carbon Emission Reductions (CERs) through the Clean Development Mechanism of the Kyoto Protocol; and v) help develop local expertise to aid future development of renewable energy in Pakistan.

IFC''s participation in the Project will i) bring global industry knowledge and experience of IFC for sustainable development of wind power in Pakistan; ii) help develop best practices and ensure compliance with IFC''s environmental and social guidelines along with international health and work safety standards; iii) help mobilize funding by other DFIs to broaden the funding sources for this project as well as future wind projects; iv) support local banks to provide sustainable long-term financing for the development of renewable energy projects in Pakistan.

This is 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. Potential impacts are those primarily associated with construction activities, are likely to be limited to the project site; are short term; and likely to have limited adverse impacts because of the remote location and sufficient distance from sensitive environmental areas.

Contacts

For Inquiries About the Project, Contact

Mr. Hafeez Ur Rahman, Project Manager
Dawood Centre, M.T.Khan Road, Karachi – 75530, Pakistan
(t) +92 21 5686001-16
(f) +92 21 5633970
mailto:hafeezurrehman@dawoodgroup.com

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Local Access of Project Documentation

Dawood Centre, M.T.Khan Road, Karachi – 75530, Pakistan
(t) +92 21 5686001-16
(f) +92 21 5633970

This Summary of Proposed Investment is prepared and distributed to the public in advance of the IFC Board of Directors' consideration of the proposed transaction. It is not an offer of shares to the public and is intended solely to enhance the transparency of IFC’s activities. This document should not be construed as presuming the outcome of the Board decision. Board dates are estimates only. The following SPI is disclosed in accordance with IFC’s Policy on Disclosure of Information that went into effect April 30, 2006.

The map is for illustrative purposes and does not imply the expression of any opinion on the part of the World Bank, concerning the legal status of any country or territory or concerning the delimitation of frontiers or boundaries. Country borders or names do not necessarily reflect the World Bank Group's official position. In some cases, available project location information is limited to the country of the project's activities. Locations are approximate.

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