InfraCo Asia Sells its Stake in Metro and Gul Ahmed Wind Power Projects in Pakistan

In September 2017, InfraCo Asia sold its shareholding in the Metro and Gul Ahmed wind power projects to Daelim Energy, a Korea-based energy and infrastructure company. The successful exit in favour of the private sector validates InfraCo Asia's unique model. InfraCo Asia provided early-stage development capital for the projects, and guided the development process from feasibility studies, to raising financing, and to financial close, when InfraCo Asia Investments also participated to provide a portion of the equity capital needed at financial close.

The Gul Ahmed wind power project

Both projects have since completed construction and have been in commercial operation for about a year. Now that both InfraCo Asia and InfraCo Asia Investments have exited both projects completely in favour of the private sector, funds can be recycled into future projects.  

Also in September 2017, InfraCo Asia signed an MOU with Darco Water Technologies for the development of four new water treatment projects in Vietnam. 

The agreement was signed onstage at International Enterprise Singapore’s Asia-Singapore Infrastructure Roundtable, and was witnessed by IE Singapore CEO, Lee Ark Boon and Singapore Minister for Trade and Industry, S. Iswaran.

Once completed, the projects will provide up to 62,000 cubic metres of water, benefitting approximately 500,000 people. 

Members of the InfraCo Asia team onstage at Singapore's Shangri-La Hotel after receiving the 'Excellence in Sustainability' Award. 

BritCham Business Awards

The Excellence in Sustainability Award was given to InfraCo Asia as part of BritCham’s 18th Annual Business Awards. InfraCo Asia was recognised for its 'brilliant set-up to de-risk and catalyse infrastructure projects which are changing the lives of thousands whilst driving inward investment by the private sector'.

The ceremony was opened by Josephine Teo, Minister, Prime Minister’s Office. BBC presenter Sharanjit Leyl served as the host for the evening, and British High Commissioner HE Scott Wightman handed out the awards onstage. 

Risk-Management Workshop  and Anti-Bribery Training

InfraCo Asia and its three developer teams – Equicap Asia, Infra Capital Myanmar, and Infunde Development – gathered in Singapore on 18 August for the Annual Risk-Management Workshop and Anti-Bribery Training. The interactive, full-day session covered the pitfalls and risks infrastructure developers might

come up against in Asia, and worked through strategies for effectively and ethically navigating business dealings. 

InfraCo Asia has achieved three recent milestones: Our first exit, from the Metro and Gul Ahmed wind projects in Pakistan; our first water-sector agreement, in signing an MOU for projects in Vietnam; and winning our first two industry awards, from PFI Thomson Reuters and BritCham.

I count these milestones as especially significant, given that we are in an industry where projects can span over decades, and new ways of approaching infrastructure development are not common. At InfraCo Asia, we’re forging a new path, one that takes a sustainable approach to bringing commercially viable projects to life – and we are gaining traction.

Our successes are a reflection not only of our team’s tireless commitment and hard work, but also the industry’s openness to doing things differently. Our developer teams, along with the investors fro­m the private sector who have funded our projects, are part of the tide that has created the right environment for InfraCo Asia’s progress and growth. 

Both awards presentations we took part in included the honour of meeting a Singapore government minister. At the PFI Thomson Reuters event, I had the pleasure to speak with Ms. Indranee Rajah, Senior Minister of State for Law and Finance, and we met with Ms. Josephine Teo, Minister, Prime Minister’s Office, as part of the BritCham Business Awards.

InfraCo Asia is now looking forward to hosting a VIP of its own from 9-13 October. Andy Bainbridge, Chairman of our parent company, The Private Infrastructure Development Group, will be visiting Singapore from the U.K. He will meet with some of our key stakeholders, and help to establish new connections with the people and organisations who will have a hand in defining our future success.

I hope you have a chance to read the feature article on our board member, Amy Lee. In it, she describes the unique mix of backgrounds and personalities on the InfraCo Asia team, and why our array of attributes makes us ‘the right team for the job’ when it comes to mitigating early-stage development risks, and serving as a catalyst for private sector participation.

We look forward to sharing more positive news about InfraCo Asia’s impact in the world as the year comes to a close. 

On Twitter: @AllardMNooy & @InfraCoAsia

Pakistan Wind Sale Coverage

PFI Thomson Reuters (under subscription) covered InfraCo Asia's sale of its shareholding in the Metro and Gul Ahmed wind power projects. 

Infrastructure Industry Insights

InfraCo Asia CEO Allard Nooy shared his thoughts on renewable energy opportunities in the ASEAN region in the lead up to Inframation’s Infrastructure Investors Forum Asia (IIF Asia). Read the article here (under subscription).   

MOU Between Darco Water Technologies and InfraCo Asia

Several media outlets covered the partnership agreement between InfraCo Asia and Darco Water Technologies for the development of four water treatment plants in Vietnam. They include:

Straits Times 
Business Times
Singapore Business Review
The Edge
Desalination.biz 

Power and Electricity
World Vietnam 

On 10 October, InfraCo Asia's Director of Business Development, Prabaljit Sarkar, will present on the right energy mix for Vietnam at Power and Electricity World Vietnam in Hanoi.  

TXF Asia 2017

On 12 October, TXF Asia 2017: Export, Agency, and Project Finance will take place at Singapore's W Hotel. Allard Nooy will present on 'making non-power infrastructure projects bankable.'

Asia Clean Energy Summit

On 25 October, Allard Nooy will speak about Asia's energy roadmap at the Asia Clean Energy Summit, to be held at Marina Bay Sands Convention Centre in Singapore. 

Solar & Off-Grid Renewables Southeast Asia 

On 21 November, Allard Nooy will speak at Solar & Off-Grid Renewables Southeast Asia about transferring international best practice to the region.