Artistic Wind Power Pvt Limited (IFC-40966)

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
ARTISTIC WIND POWER PVT 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)
$ 12.90 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)
$ 73.00 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 proposed project "comprises the development, construction, and operation & maintenance of a 50 MW greenfield wind power project on Build-Own-Operate basis in Jhimpir District, Thatta, about 130 km north east of Karachi in Sindh Province, Pakistan. 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."

"...Construction works will be carried out by Chinese EPC PowerChina through its subsidiaries Hangzhou Huachen Electric Power Control Co., Limited as Supplier and HydroChina International Engineering Company Limited Pakistan as EPC Contractor. HydroChina International Engineering Company Limited Pakistan will also perform the role of Operations and Maintenance (O&M) contractor for the first two years together with turbine supplier Goldwind, after which a new O&M contractor will be appointed. It is expected that construction work will begin in 2020 and that the wind farm will take around 15 months to complete. Wind turbines will be connected to a 132-kV high voltage switchyard in the power plant via a 22 kV underground electrical collection system. Electricity from the project will be transmitted from this switchyard to a National Transmission and Dispatch Company Limited (NTDC) transmission line that will serve multiple projects and be built by NTDC. The transmission line is not considered as an associated facility under Performance Standard 1 as it will be a shared line serving multiple (sixteen) other wind farm projects, of which IFC will be supporting six..."

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 Artistic Wind Power (Private) Limited (Artistic Wind), a special purpose vehicle (SPV) incorporated under the laws of Pakistan. Artistic Wind is wholly owned by Artistic Milliners (Private) Limited (Artistic Milliners), a company incorporated under the laws of Pakistan. Artistic Milliners is owned primarily by Mr. Yaqoob Ahmed."

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Artistic Milliners (Private) Limited Parent Company -
- - - - Artistic Wind Power (Private) Limited Client -
- - - - Central Power Purchasing Agency Guarantee Limited Buyer -
- - - - Goldwind Undisclosed -
- - - - Hangzhou Huachen Electric Power Control Company Contractor -
- - - - Hydrochina International Engineering Company Contractor -
- - - - National Transmission and Dispatch Company Limited Buyer -

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.

Artistic Wind Power Private Limited
Rafique Khanani
Chief Financial Officer
+92 21 34321936
rkhanani@artisticmilliners.com
Plot 3/A, M.C.H.S, Main Shahrah-e-Faisal, Pakistan

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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How it works