British International Investment

Zephyr Wind Farm

South AsiaInfrastructure

Zephyr Power (PVT) Limited is a company incorporated in Pakistan which is constructing a 50 megawatt (MW) wind farm in Gharo, near Karachi.

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

Our investment

Description of the investment.

In 2017, CDC committed up to $41 million ($19.8 million of equity and $20.65 million of debt) for the construction of the project.

CDC is the largest shareholder in Zephyr, with the remainder held by a consortium of local partners, comprising the original developers, the Khaleeli Family, and the Gul Ahmed Metro Group.

The investment is CDC’s first equity investment in Pakistan’s power sector in almost two decades, and first joint debt/equity investment overall.

In addition to equity, we are providing project finance debt alongside Dutch DFI FMO, and United Bank Limited, one of the largest commercial banks in Pakistan.

See also

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 has an estimated 6,000MW shortfall at peak times and suffers regular power blackouts that affect millions of people and businesses. Much of the country’s current power is supplied by imported heavy fuel oils.

Our investment will help boost the country's power supply, with the Zephyr Power wind farm providing an additional source of clean, renewable energy to help reduce the number of blackouts in the region.

Construction work on the wind farm started in May 2017, and the development will see the installation of 25 state of the art turbines each of which have a capacity to generate 2MW. Operations at Zephyr are expected to start in late 2018.

It is expected that the project will generate around 500 construction jobs, with many more created indirectly as a result of improved access to power.

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

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    South Asia

    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.


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    April 2017
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