Tricom Wind Power Pvt Limited (IFC-40976)

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
Tricom Wind Power Private 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)
$ 51.50 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.
Loan 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)
$ 74.20 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). 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)."

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, "Tricom Wind is owned by (i) Lucky Energy (Private) Limited (Lucky Energy), 49 percent and (ii) Lucky Textile Mills Limited (Lucky Textile), 51 percent, each of which is a company incorporated under the laws of Pakistan and is 100 percent owned by Y.B. Holdings (Private) Limited (YB Holding), a holding company of the Yunus Brothers Group (YBG).

Incorporated in July 1993, Lucky Energy is a licensed Isolated Generation Company with NEPRA with gas-powered, thermal power generation capacity of 56.575 MW, supplying uninterrupted power to its group companies. It was formed to mitigate energy risk for YBG."

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Tricom Wind Power Private Limited Client -
- - - - YB Holdings Parent Company -
- - - - Yunus Brothers Group (YBG) Parent Company -

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.

Tricom Wind Power Private Limited
Muhammad Kashif
Chief Financial Officer
+92 21 35205479
coordination@tricomwind.com
7-A, Tabba Street, Mohammad Ali Society, Karachi – 75350, 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/

How it works

How it works