📋 Tender Overview
Project Number
48965
Company Name
Bhutan Power Corporation Limited
Date SPI Disclosed
Mar 6, 2025
Country
Bhutan
Region
South Asia
Projected Board Date
Apr 15, 2025
Environmental Category
B
Status
Pending Approval
Last Updated Date
Department
Regional Industry - INF Asia & Pac
Industry
Infrastructure
Sector
Electric Power Transmission
Additional Project Attributes
Blended Finance
Project Description
IFC is considering providing a financing package of up to US$20 million to Bhutan Power Corporation Limited ( BPC or the Borrower ) to fund part of its capital expenditure program over the next few years, particularly for two sub-components: (i) the construction of Panbang Gas Insulated Substation (GIS) and (ii) the upgradation of 4 regional Distribution Control Centers (DCC) and connection to Central DCC in Thimphu (each sub-component, individually Sub-project and collectively as the Project ). The financing package consists of US$10 million from IFC own account (A Loan), US$10 million from IFC’s Managed Co-Lending Portfolio Program (MCPP Loan) and a USD/BTN Non-Deliverable Client Risk Management (CRM) Cross Currency Swap (CCS) to effectively convert BPC’s obligation to a BTN-linked loan.
Associated Advisory Engagement
IFC has engaged with BPC since 2024 on upstream advisory initiatives involving Environmental, Social, and Governance (ESG) and contract management. In Phase-I of this engagement, IFC conducted an integrated ESG assessment of the company, prepared an improvement plan and completed two comprehensive capacity-building programs for BPC.
