Din Energy Limited (IFC-38475)

Countries
  • Pakistan
Geographic location where the impacts of the investment may be experienced.
Specific Location
Jhimpir Wind Corridor, Thatta district of Sindh province
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Oct 25, 2019
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Din Energy Limited
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 13.10 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 74.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Other Related Projects
Primary Source

Original disclosure @ IFC website

Updated in EWS Oct 30, 2019

Disclosed by Bank Sep 16, 2019

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the bank website, "The project comprises of the development, construction, and operation & maintenance of a 50 MW greenfield wind power project in Pakistan, in the Jhimpir wind corridor in the Sindh province... The Project will be connected to the national grid and will enter into a 25-year Energy Purchase Agreement (EPA) with the Central Power Purchasing Agency Guarantee Limited (CPPA-G). The project will involve installation of 20 Goldwind 2.5 MW turbines that will be arranged in two rows. Each turbine will have a hub height of 90 m and a blade diameter of 121 m. The project site falls within the Gharo-Jhimpir wind corridor, which is located in the southwest of Sindh province and comprises two clusters of wind resource areas: Gharo, which is located near to the coast and the inland Jhimpir Wind Farm Region (JWR) located in the district of Thatta with, an approximate area of 157 km2."

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

According to IFC, "The Project is being implemented by Din Energy Limited (Din Energy), a special purpose vehicle (SPV) incorporated under the laws of Pakistan. Din is owned by (i) Din Ventures, 31.7 percent; (ii) Din Corporation, 31.7 percent; (iii) Din Industries Management, 5 percent, all three of which are companies incorporated under the laws of Pakistan; and (iv) Mr. Shaikh Mohammed Pervez and Mrs. Ghazala Pervez, 31.6 percent. The shareholders are members of the Din Group of Industries.

Formed in 1954, Din Group of Industries, is one of Pakistan’s premier business groups, having started in the textiles and leather business, the primary main sources of the Group’s operations. Over the years the Group diversified their interests and made investments in financial institutions, real estate, IPPs, poultry farming, and blue-chip stocks/bonds."

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Central Power Purchasing Agency Guarantee Limited Buyer -
- - - - Din Energy Limited Client -
- - - - Hangzhou Huachen Electric Power Control Company Contractor -
- - - - HydroChina Contractor -
- - - - Hydrochina International Engineering Company Contractor -
- - - - National Transmission and Dispatch Company Limited Buyer -
- - - - PowerChina Contractor -

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Din Energy Limited
Muhammad Asad Ullah
Project Manager
00923453173243

Din House, 35-A/1, Lalazar Area, Karachi 74000


ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/

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