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Star Hydropower
Summary of Proposed Investment

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. Its purpose is to enhance the transparency of IFC’s activities, and this document should not be construed as presuming the outcome of the Board decision. Board dates are estimates only.

Project number 26229
Sector1Large Hydro - Renewable Energy Generation
Environmental categoryA
Date SPI disclosedJanuary 12, 2011
Projected board dateMay 12, 2011
Previous EventsInvested: December 31, 2012
Signed: December 13, 2011
Approved: September 8, 2011
View Environmental & Social Review Summary (ESRS), click here
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Project description
Star Hydro Power Limited (“SHPL” or the “Company”) is in the process of developing a 147 MW run-of-the-river greenfield hydroelectric power plant, on a Build Own Operate and Transfer (“BOOT”) basis, situated in part on the Kunhar river, which marks the border between Azad Jammu and Kashmir (“AJK”) and the Khyber Pakhtunkhwa province of Pakistan (“KP”) and in part on the Jhelum river in AJK” (the “Project”). AJK is the Pakistan-administered portion of an area over which India and Pakistan have been in dispute since 1947. By supporting the project, IFC does not intend to make any judgment on the legal or other status of any disputed territories or to prejudice the final determination of the parties' claims.
The Project, expected to generate about 632 GWh of energy per annum, will sell all of its output to National Transmission and Dispatch Company (“NTDC”), Pakistan’s state-owned single buyer, under a 30-year Power Purchase Agreement (“PPA”). The Project programme indicates a construction period starting in 2011 with completion scheduled four years later.

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