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Analysis of power projects with private participation under stress (English)

This report aims to 1) understand what economical, political or contractual events affecting power projects in a region or a specific country led to project distress; and 2) establish how they affected the various private power projects. The report describes and analyzes the trends in private participation in the electric power sector in developing countries over the 1984-2003 period. The analysis is based on the survey of 63 electricity projects under stress. It identifies the most significant causes of stress, describes the most frequent stress factors and their combination in "stress patterns," and presents the consequences of the stress patterns on power projects. Beyond the presentation of stress patterns, the report provides insights in the relationship between power sector reforms, privatization of power utilities and success/failure of private power projects.


  • Author

    Covindassamy,M. Ananda, Oda,Daizo, Zang, Yabei

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    ESMAP Paper

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  • Region

    The World Region,

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  • Doc Name

    Analysis of power projects with private participation under stress

  • Keywords

    electric power sector;private participation in electricity;Public Private Infrastructure Advisory Facility;private investment;energy and water;cumulative investments;private electricity;sovereign credit rating;independent power producer;investment in electricity;risk of default;power sector reform;private sector involvement;types of transactions;public sector monopoly;return to investors;level of private;distribution and transmission;implicit government guarantee;government budget constraint;international financial market;gas and electricity;Access to Electricity;private sector partner;increasing energy demand;per capita term;foreign direct investment;amount of investment;breach of contract;exchange rate instability;power purchase agreement;Type of Investment;public sector resource;public sector financing;distribution of investment;enforcement of contract;sustainable energy practice;privatization of power;mutually acceptable solution;exposure to risk;community at large;lease contract;Energy Sector;generation business;distribution business;natural monopolies;macroeconomic instability;private finance;financial crisis;private investor;regional distribution;private activity;consensus building;perceived risk;commercial risk;Market Risk;financial engineering;political risk;transition country;electricity sector;investment commitment;transition countries;private power;power utility;power utilities;existing asset;energy service;sectoral reform;investment need;political factor;Energy Projects;financial distress;present study;private ownership;expected return;regional trends;investment risk;state ownership;annual investment;Business Climate;privatization program;transmission business;investor confidence;primarily use;risk taking;effective competition;Cash flow;regulatory system;electricity distribution;regional concentration;investment pattern;country accounting;market fluctuation;cross-border merger;sector restructuring;pilot activities;small country;innovative way;power company;copyright notice;knowledge generation;social program;electricity price;political issue;regional investment;roundtable meeting;contractual dispute;noncommercial purposes;workout process;investment opportunities;distribution wire;cogeneration plant;political uncertainty;distribution activity;internal cash;industry representatives;high capital;market model;hydro scheme;home market;commercial performance;management autonomy;energy investment;international investor;energy planner;basic standard;generation sector;government balance;market economy;state budget;financial rehabilitation;Exit Strategy;energy expert;private company;operational efficiency;commercial management;communist countries;electricity service;infrastructure operation;private management;electricity transmission;specific issue;service coverage;transition economy;management control;electricity utilities;survey results;distribution privatization;generating capacity;generation facilities;investment program;competitive sector;psychological effect;Transition economies;political problem;potential liability;demand risk;utility management;risk exposure;national utility;state-owned utilities;strategic agenda;generation capacity;knowledge partnership;traditional biomass;financial consequence;investment profile;knowledge product;contractual agreement;introducing competition;Capital Investments;Advisory services;private operation;public finance;private donor;bond issue;commercial viability;commercial bank;investment level;electricity companies;privatization effort;distribution company;



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Covindassamy,M. Ananda Oda,Daizo Zang, Yabei

Analysis of power projects with private participation under stress (English). Energy Sector Management Assistance Program working paper series ; ESM 311/05 Washington, D.C. : World Bank Group.