3. PPP Portfolio Management
The Portfolio Management function is responsible for monitor-
ing and management of PPP projects from the time of their
effectiveness to implementation and full repayment of IsDB’s
financing. Out of the 34 current PPP projects under portfolio
management, the following four projects reached completion
milestone during 2019.
(i) Triconboston
is a 3x50 MW Wind Power Project which is
located in South East Pakistan in a designated area namely the
Jhimpir Wind Corridor. The project cost was USD 316 million,
and it was financed by 75:25 debt to equity with IsDB’s final
allocation of USD 66 million. Other financiers’ participations
included USD 66 million from IFC, USD 66 million from ADB,
USD 39.6 million from DEG.The Project consisted of 87 General
Electric (GE) 1.7-103 wind turbine generators (WTGs) and the
EPC Contractor was Hydrochina.The Projects achieved Commer-
cial Operation Date (COD) two months ahead of schedule in
September 2018.The Project also achievedTechnical Completion
in December 2018. The Project has improved access and
affordability of energy services and limited supply shortfalls by
adding the output of 150 MW capacity of windfarm to the
existing power infrastructure in Pakistan. The outcome of the
project is to dispatch with an estimated minimum annual
production of 520 GWh on P90 basis and to avoid annual
greenhouse gas emissions of 204,000 tCO2/year.
(ii) SCATEC (six) 50 MW Solar Power IPP Projects in Aswan,
Egypt:
Supporting the country’s efforts to increase power
generation capacity and increase the share of renewables in its
energy mix, the Government of Egypt embarked on construct-
ing six independent 50 MW Solar Power IPP Projects in Aswan
(Egypt). IsDB approved a total of US$ 80 million for (six) indepen-
dent 50 MW solar power projects under the Egyptian
renewable energy Feed-in-Tariff (FiT) program. In November
2019, all 6 projects reached COD. These Projects form 13% of
the solar FiT program in Egypt.
(iii) Blaise Diagne International Airport Project (AIBD), Senegal:
AIBD is a high priority project for the Government of Senegal.
The need for a better airport infrastructure capable of sustaining
development became a must. To respond to this need, GOS
decided to construct a new Airport. AIBD Airport project entails
the design, financing, construction, management and
maintenance of a new airport infrastructure 45 km north of the
City of Dakar, the capital of Senegal. Project cost was estimated
at Euro 635 million with long-term financing amounting to Euro
402.58 million. The financing was structured in two tranches; a
Euro 246 million Conventional tranche led by AfDB and
including AFD, BOAD, ICF and IDC, and a Euro 164 million
Islamic tranche led by IsDB through a Mudaraba.
(iv) Kayes Thermal Power Plant Project, Mali:
The Kayes
Thermal IPP entails the development, financing, procurement,
construction, ownership, operation and maintenance of a
thermal electricity generation facility for a period of 20 years
from the Commercial Operation Date. The power plant has a
rated capacity of 90 MW and once completed, it is expected to
generate 578 GWh of electricity annually, which would reduce
the electricity supply gap in the country by about 34%. IsDB
financed the Kayes Thermal Power Plant Project through a
leasing operation under the PPP scheme for Euro 30 million
approved on 30 June 2016.
Accumulated disbursements by the end of 2019
reached USD
2.9 Billion
in reference to
non-sovereign lending portfolio of
USD
3.5 Billion
Portfolio Overview:
Utilities
39%
Energy
9%
Materials
12%
Transport
8%
Financial
26%
Healthcare
6%
Other Me Countries
37%
GCC
29%
South Asia & South East Asia 15%
Central Asia
0%
Sub-Saharan Africa
7%
North Africa
12%
Sectoral Exposure
Cumulative Approvals as of end of 2019 - USD 4.3 Bln (2018 - USD 4.1 Bln)
Regional Exposure
Cumulative Disbursements as of end of 2019 - USD 3.8 Bln (2018 - USD 3.5 Bln)
