British International Investment

Gulpur Hydropower

South AsiaInfrastructure

The Gulpur Hydropower plant is one of several World Bank-funded projects located in Pakistan and is part of the Pakistan Government’s least-cost energy generation plan.

The plant is being developed by Mira Power, a subsidiary of Korean company KOSEP, and lies on the Poonch River about 170km from Islamabad.

This investment was made when British International Investment was named CDC Group.

Our investment

Description of the investment.

Our investment will support the construction of Gulpur Hydropower Plant, a new 102 megawatt (MW) hydro power plant with annual generation capability of 465 GWh.

The Asian Development Bank (ADB) is providing the loan to Mira Power. The facility will help tackle Pakistan’s dire power shortage.

Expected impact

Expected impact of investments made between 2012 and 2018. From 2019 onwards, we have published a fuller set of impact information, assessing each investment against six dimensions of impact.

Pakistan can be a difficult place to do business. There is potential growth – steadily expanding economic growth, rising consumer demand and a growing middle class.

However, transportation and infrastructure are weak, and lack of power is one of the biggest barriers to Pakistan’s development. Blackouts, lasting eight hours on average, leave millions without power and hold back businesses.

The new plant, which will be completed by 2020, will bring down the overall cost of power in Pakistan and will also help to reduce greenhouse gas emissions by moving away from thermal power generation. Currently, 68 per cent of Pakistan’s energy comes from fossil fuels, 29 per cent from hydropower and 3 per cent from other sources.

Reporting and Complaints Mechanism

The Reporting and Complaints Mechanism allows anyone outside BII to report alleged breaches of the business integrity or environmental and social provisions of BII’s Policy on Responsible Investing. This includes breaches made by BII, a BII investee, or a portfolio company of a fund in which BII has invested. The Reporting and Complaints Mechanism Rules are available here. Reports and complaints can be submitted by email to [email protected] or by mail. See more details on our Reporting and Complaints Mechanism here.

For any other general enquiries contact us at [email protected]

  • Key facts

    Last updated

    When the last quarterly update of the website database occurred.

    :
    March 2024
    Project number

    An identifier number shared by investments in the same project.

    :
    D201
    Status

    The current status of the investment (green flag for active and red flag for exited).

    :
    Active
    Region

    The geographical region where the country is located. We currently invest in Africa, South Asia, South East Asia and the Caribbean. In 2023, BII’s investment mandate was extended allowing it to invest in regional funds linked to Ukraine, with the majority of activity expected to begin post-war. Investments outside these regions were made prior to 2012 under previous investment mandates.

    :
    South Asia
    Sector

    We prioritise those sectors that facilitate development and need our capital the most. Our priority sectors contribute towards many of the Sustainable Development Goals. They range from investing in the power infrastructure that will provide people with better access to electricity, to investing in financial institutions that direct capital to the individuals and businesses that need it the most.

    :
    Infrastructure

    We provide capital in the following ways: directly – through direct equity, direct debt, guarantees and other non-intermediated financial instruments; and indirectly – principally through investment funds.

    For direct investments and fund investments, this is the date BII committed capital to the investments. This is typically the date on which legal agreements are signed by all parties.

    For the portfolio companies of our fund investments, this is the date (either the month or the quarter) on which the fund committed capital to the portfolio company.

    For direct equity investments, this is the date at which British International Investment exited the investment.

    For debt investments, this is the date at which the final debt repayment was made.

    For funds, this is the date at which the fund was terminated.

    For underlying fund investments, this is the date at which the fund manager exited the investment.

    The total amount committed, per financial instrument, per investment, on the date BII becomes subject to a binding legal obligation to provide funding or assume a contingent liability. This information is provided in US dollars.

    For direct investments, this is the amount that BII has committed to the business or project. For fund investments, this is the amount BII has committed to the fund.

    The currency in which the investment was made.

    Investment type :
    Debt
    Start date :
    May 2015
    Amount :
    $17.15m
    Currency of investment :
    USD
    Domicile

    The company or investment fund’s place of incorporation.

    :
    Pakistan

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