British International Investment

Liberty Wind Power 1 (PVT) Limited

South AsiaInfrastructure

CDC’s investment is funding the creation of 150 MW of wind farms located in the Jhimpir area of the Sindh province of Pakistan. The project involves three separate schemes of 50 MW each, two developed by Liberty Mills and one by Indus Group.

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

Impact information

Applies to investments made from 2019 onwards. The tabs in this section define what we expect to achieve through the investment, assessing the potential impact of the investment against six dimensions of impact. You can find more details on our methodology of assessing impact here.

What?

Impact
  • Support climate action by avoiding greenhouse gas emissions (SDG target 13A).
  • Support economic opportunities by enabling firms to grow (SDG target 8.5).
  • Support provision of reliable, clean and affordable energy by increasing renewable power generation (SDG targets 7.1, 7.2).

How?

How?

CDC's investment will fund the development of the wind farm supporting the decarbonisation of Pakistan's energy mix and helping to meet growing electricity demand. Increasing the supply and reliability of power has evidenced positive effects on firm growth and employment, and quality of life. CDC's investment will also reduce coal and fossil fuel imports by 0.1 per cent (or c. $10.7 million), helping to relieve pressure on foreign exchange reserves.

Who?

Stakeholder Geography Characteristics
Planet

Global

N/A

Employees

Pakistan

Other (power will support employees primarily in manufacturing, construction, transport and agriculture sectors expected to be low to middle-income).

Customers

Pakistan

Other (71 per cent of people in Pakistan have access to electricity).

How much?

Scale Depth/Duration
  • Employees: Supporting the creation of an estimated 2,100 indirect jobs over the lifetime of the investment.
  • Customers: Meeting electricity demand for 110,000 residential customers over the lifetime of the investment.
  • The depth of employment impact will vary for each sector of the economy but will be deeper for workers of power-intensive firms.
  • The depth of quality of life impacts will vary by location, socioeconomic status, etc.

Contribution/additionality

Contribution/additionality
  • Financial additionality: Capital is not offered on the same terms.
  • Value additionality: We are supporting an increase in the standard of environmental and social processes in relation to biodiversity and ecological risk analysis.
  • Mobilisation: Our investment will help to mobilise local banks who will provide local currency financing.

Grid score

Grid Score

To help us direct our investments, we previously used a tool called the Development Impact Grid. It scored investments out of four, based on two factors: the difficulty of investing in a country and the propensity of the sector to generate employment. This tool was used for investments until the end of 2021. Since 2022 it has been replaced by the Impact Score.

3.98

Risk

External Risk
  • To maximise the investment's full impact potential, simultaneous progress is required by the electricity transmission and distribution grid to reduce power losses.

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.

    :
    D3288
    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 :
    November 2019
    Amount :
    $27.2m
    Currency of investment :
    USD
    Domicile

    The company or investment fund’s place of incorporation.

    :
    Pakistan

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