Gulpur Hydropower Project

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Mira Pakistan Ltd. was planning the development of the 100MW Kotli Hydropower Plant, on the Poonch River, Kotli (AJK). The $276 million in debt for the project is being provided by: IFC Asian Development Bank (ADB) Korea EximBank FMO The IFC is lending $122 million and the ADB will lend $65 million. The debt portion provided by FMO and Kexim has not been disclosed. The project will be located 167km from Islamabad and 285km from Lahore and has a completion date of 2019. The project is being developed on a build, operate, own and transfer (BOOT) basis under the government of Pakistan’s Policy for Power Generation Projects 2002 initiative. The Mira Power special purpose vehicle, which is undertaking the concession, is owned by three Korean companies: Kosep Lotte Daelim Kosep owns 76% of the project company, while the two other sponsors own 24% each. The Pakistan government is providing a payment guarantee as part of its power policy. Not sufficient information, but official government source. Source: http://www.ppib.gov.pk/N_hydel_with_los.htm http://www.nepra.org.pk/Tariff/IPPs/Mira%20-%20Kotli/Mira%20Pakistan%20Ltd.pdf