41710 PPI data update note 6 November 2007 Private activity in energy remained stable in 2006 In 2006 the number of new energy projects with private participation, along with the associated investment commitments, remained at levels similar to those of the previous two years, according to just-released data from the Private Participation in Infrastructure Project Database.1 Eighty-one projects with private participation, involving investment commitments (hereafter, "investment") of more than US$14 billion, reached financial or contractual closure in 29 low- and middle-income countries in 2006.2 In addition, energy projects implemented in previous years attracted new investment of US$5 billion, bringing total investment commitments to US$19 billion. As in previous years, electricity accounted for most of the investment in energy, while within electricity, generation had the largest share (see charts). Indeed, 52 of the 81 energy contracts were for power plants. Those contracts, for 19,400 megawatts (MW), involved investment commitments of US$9.5 billion. The remaining contracts were for electricity transmission lines (11 projects, for US$2.2 billion and 24,900 kilometers [km]), electricity distribution utilities (6 projects, for US$500 million and 2.4 million connections), natural gas distribution (10 projects, for US$490 million), and natural gas transmission (2 projects, for US$1.3 billion and 335 km). Figure 1 Investment commitments to energy projects with private Figure 2 Investment commitments to electricity projects with private participation in developing countries by subsector, 1990-2006 participation in developing countries by segment, 1990-2006 70 2006 US$ billions* Projects 140 2006 US$ billions* Projects 70 160 60 120 60 140 50 100 50 120 100 40 80 40 80 30 60 30 60 20 20 40 40 10 10 20 20 0 0 0 0 1990 1995 2000 2005 1990 1995 2000 2005 Distribution utilities Integrated utilities Generation Electricity Natural gas Energy projects Transmission Electricity projects Source: World Bank and PPIAF, PPI Project Database. * Adjusted by the 2006 US CPI. Source: World Bank and PPIAF, PPI Project Database. * Adjusted by the 2006 US CPI. Among the 81 energy projects, the most common types were greenfield projects (58 projects and US$11 billion in investment) and divestitures (12 projects and US$3.2 billion). Previously divested projects accounted for another US$4.4 billion in investment. The remaining energy projects in 2006 were 7 concessions, 3 management contracts, and a lease contract. Activity by region. New private activity was highly concentrated in 2006. Five countries--India, Algeria, Brazil, Argentina, and the Slovak Republic--accounted for 65% of the investment and 32% of the projects. The top 10 countries by investment represented 86% of the investment and 57% of the projects. (For projects by region, see tables below.) 1 Energy includes electricity generation, transmission, and distribution as well as natural gas transmission and distribution. Other energy businesses are not included in the PPI Project Database. 2 Data on energy contracts include primarily medium-size and large projects as reported by the media and other public sources. Small-scale projects are generally not included because of the lack of public information. Other contracts may also have been omitted for the same reason. - 1 - In East Asia five countries saw private activity. China signed 13 contracts, involving investment of US$500 million. Of these contracts, 9 were for natural gas distribution networks and 4 for small greenfield power plants. Indonesia had 4 greenfield power plants, involving investment of US$380 million and 400 MW. The Lao People's Democratic Republic began implementation of the 615-MW Nam Ngum 2 hydropower plant to export electricity to Thailand. Malaysia implemented two small power plants. And the Philippines fully divested the Pantabangan-Masiway hydropower plant and partially divested Energy Development Corporation, the state-owned geothermal generator. The Philippines also implemented a 31-MW greenfield wind power plant. In Europe and Central Asia private activity was reported in eight countries. Bulgaria divested the 1,260-MW Varna power plant as well as a smaller one and began implementation of a small greenfield power plant. Georgia fully privatized Tbilgaz, the natural gas distribution company in Tbilisi, with 200,000 customers. The former Yugoslav Republic of Macedonia divested ESM AD, the national electricity distribution company, with 700,000 customers. Poland divested a small power plant. Romania sold a 10% stake in Transelectrica, its electricity transmission and system operator, through the local stock exchange. In the Russian Federation the municipal government of Bryansk signed a lease contract for the operation of its electricity and heating distribution systems. The Slovak Republic concluded the divestiture of Slovenske Elektrarne, the country's largest electricity generator; with investment of more than US$1 billion, this was the largest energy project in the region in 2006. Finally, Turkey began implementation of two small greenfield power plants. In Latin America six countries implemented energy projects. Brazil reached closure on five greenfield transmission line projects involving 2,700 km and investment of more than US$1 billion. In addition, it partially divested Companhia de Transmissao de Energia Eletrica Paulista, the transmission company of Sao Păulo state. And Brazil began implementing three power plants with a total capacity of 120 MW, one of them a 40-MW, one-year rental plant in Manaus. Argentina began implementation of two greenfield power plants with total capacity of 1,660 MW and investment of more than US$1 billion. The power plants, part of the federal government's strategy to expand generation capacity, are funded mainly by an investment fund created after the Argentine peso crisis, with wholesale power revenues owed to generators. Argentina also reached closure on four transmission lines involving 1,600 km and investment of US$600 million. Mexico reached financial closure on the 1,135-MW Tamazunchale power plant and the Tamazunchale natural gas pipeline. Chile began implementation of a 120-MW thermal power plant. Colombia divested Electrificadora del Tolima, an electricity distribution company in the department of Tolima with 320,000 customers. Ecuador began implementing two power plants. It also signed a five-year management contract for the electricity distribution utility of Southern Guayaquil but requested cancellation of the contract by the end of 2006. In the Middle East and North Africa two countries had new private activity. Algeria began implementing two greenfield projects with investment of more than US$1 billion each. One is a 1,277-MW power plant, and the other a transmission pipeline to export natural gas to Spain. The Republic of Yemen signed two power rental contracts for a total capacity of 100 MW for two years. In South Asia new private activity was seen in India and Pakistan. India reached financial closure on seven greenfield power plants involving more than 2,100 MW and investment of US$2.4 billion. India also signed a 10-year concession for electricity distribution in Bhiwandi district, near Mumbai, covering 160,000 connections. In Pakistan a 30-year build-operate-transfer (BOT) project for a 225-MW power plant reached financial closure, and Wapda, the state-owned utility, signed a three-year power rental contract for 136 MW. In Sub-Saharan Africa six countries had private activity reported. Angola signed two power rental contracts for a total of 60 MW for two years. The Gambia signed a five-year management contract for its power plants, while Kenya signed a two-year management contract for its electricity distribution company. Kenya also partially divested its electricity generating company through an initial public offering on its stock exchange and signed a one-year rental contract for 100 MW. South Africa began implementing a 5-MW greenfield wind power plant. Tanzania authorized three rental contracts for a total capacity of 180 MW for two years. Uganda signed a 50-MW rental contract for two years. - 2 - Potential new projects. Besides the 81 projects reaching closure in 2006, at least 30 other energy contracts were awarded, though they had not reached financial closure nor been signed before the end of the year. Those projects are a 450-MW greenfield power plant in Bangladesh, a 30-MW greenfield power plant in Belize, two transmission lines and five greenfield power plants involving 2,700 MW in Brazil, two transmission lines in Chile, a 50-MW greenfield wind power plant in Costa Rica, a 100-MW greenfield hydro plant in Guyana, five greenfield power plants totaling 2,760 MW in India, a 300-MW greenfield geothermal plant and a natural gas transmission pipeline in Indonesia, a 370-MW greenfield natural gas power plant in Jordan, two natural gas transmission pipelines and a small greenfield power plant in Mexico, a 678-MW greenfield power and desalination plant in Oman, a 150-MW greenfield hydro plant in Panama, the 360-MW Magat hydropower concession in the Philippines, the partial divestiture of an electricity utility in the northwestern region of Poland, the partial divestiture of Electrica Muntenia Sud in Romania (the country's largest electricity distribution company), and the 220-MW Bujagali hydropower plant in Uganda. Canceled and distressed projects. In 2006, 7 private energy projects were canceled or became distressed, bringing the total number of those canceled or distressed by 2006 to 88. These contracts represent 6% of all energy projects and 12% of committed investment in 1990­2006. The share of projects canceled or distressed in that period showed no change from that in 1990­2005, while the share of investment they represented declined by 1 percentage point. Five contracts were canceled in 2006: two 25-year electricity distribution concessions in Azerbaijan (one for Baku, signed in 2001, and the other for the country's northern districts, signed in 2002); the 20-year concession for Togo's integrated electricity utility, signed in 2000; the five-year management contract for Rwanda's integrated electricity and water utility, signed in 2003; and El Paso's Macae natural gas power plant, in Brazil, which reached financial closure in 2002. Concluded projects. Three energy projects concluded in 2006: the management contract for the Tanzania Electricity Supply Company (TANESCO), the Generadora Cordoba concession in Argentina, and the Mahiao Geothermal Power BOT in the Philippines. The South African NETGroup Solutions transferred TANESCO's operations back to the government of Tanzania. The Argentine Generadora Cordoba, which had power plants with more than 300 MW installed capacity under a 10-year concession, returned the assets to Cordoba's provincial energy company. And the U.S. company CalEnergy, after the conclusion of its 13-year BOT contract, transferred the 120-MW Mahiao Geothermal Power Plant to the Philippine state-owned PNOC-EDC. - 3 - Energy projects reaching financial or contractual closure in 2006 Note: .. denotes missing data; n.a. means not applicable. East Asia and Pacific Country Project name Project Subsector Type of PPI Private Investment Capacity Contract Main sponsors status equity commitment size and period (%) (US$ type (years) millions) 1 China Asia Power (Leibo) Operational Electricity Greenfield 40.1 18.6 40 MW 50 Asia Power (41%, ..) Hydroelectric Power Co. Ltd. project (BOT) 2 China Asia Power (Yu County) Operational Electricity Greenfield 70 12.6 19.5 MW 50 Asia Power (70%, ..) Hydroelectric Power Co. Ltd. project (BOT) 3 China Baoji China Gas Co. Ltd. Operational Natural gas Concession 64 21.3 .. 30 China Gas Holdings Ltd. (64%, Hong Kong, China) 4 China Chongqing China Gas LMP Operational Natural gas Greenfield 100 100.4 .. 30 China Gas Holdings Ltd. (100%, Hong Co. Ltd. project (BOT) Kong, China) 5 China Conghua City Gas Project Construction Natural gas Greenfield 100 18.8 .. 30 China Gas Holdings Ltd. (100%, Hong project (BOT) Kong, China) 6 China Fushun City Gas Project Operational Natural gas Concession 70 35.3 .. 30 China Gas Holdings Ltd. (70%, Hong Kong, China) 7 China Fuxin Panva Gas Co. Ltd. Operational Natural gas Greenfield 90 22.5 .. 30 Panva Gas Holding (90%, Hong Kong, project (BOT) China) 8 China Huhhot Gas Project Operational Natural gas Concession 50 100.4 .. 30 China Gas Holdings Ltd. (50%, Hong Kong, China) 9 China Jintan City Hong Kong and Operational Natural gas Greenfield 60 18.8 .. 50 Hong Kong and China Gas Co. (60%, China Gas Co. Ltd. project (BOT) Hong Kong, China) 10 China Luoyang Xinao Gas Co. Ltd. Operational Natural gas Concession 51 45.2 .. 30 Xinao Gas Holdings Ltd. (51%, China) 11 China Qingdao Taineng Natural Operational Natural gas Concession 51 32.1 .. 30 China Gas Holdings Ltd. (51%, Hong Gas Co. Ltd. Kong, China) 12 China Tianquan River (Shiyang Operational Electricity Concession 24.9 87.8 .. 50 Asia Power (25%, ..) Section) Hydroelectric Power Development Co. Ltd. 13 China Xinjiang Farsighted Construction Electricity Greenfield .. 6.3 .. 50 Farsighted Investment (..%, China) Yeerqiang River project (BOT) Hydroelectric Power Development Co. Ltd. 14 Indonesia Asahan-I Hydropower Plant Construction Electricity Greenfield 100 270.0 180 MW 30 PT Bajra Daya Sentranusa (..%, project (BOO) Indonesia), China Huadian Corp. (..%, China) 15 Indonesia Embalut Coal-Fired Steam Construction Electricity Greenfield 100 49.0 50 MW 30 Jawa Pos Group (..%, Indonesia) Power Plant project (BOO) 16 Indonesia Gunung Megang Gas Power Operational Electricity Greenfield 85 45.0 160 MW 20 Portek International Ltd. (15%, Plant project (BOO) Singapore), Sintesa Group (..%, Indonesia) 17 Indonesia Sibayak Geothermal Power Construction Electricity Greenfield 100 14.6 10 MW .. PT Dazamatra Powerindo (100%, Plant project (BOO) Indonesia) - 4 - 18 Lao PDR Nam Ngum 2 Hydro Power Construction Electricity Greenfield 71 800.0 615 MW 25 Ch Karnchang Co. Ltd. (29%, Plant project (BOT) Thailand), Ratchaburi Electricity Generating Holding Plc (25%, Thailand) 19 Malaysia Kota Kinabalu Gas-Fired Construction Electricity Greenfield 100 155.0 190 MW 21 Ranhill Bhd (100%, Malaysia) Power Plant project (BOO) 20 Malaysia Sandakan-1 and Seguntor Construction Electricity Greenfield 100 48.0 20 MW .. GoBio (40%, Malaysia), Chubu Electric Biomass Power Plants project (BOO) Power Co. (18%, Japan), SMEC (30%, Australia) 21 Philippines 3iPowergen Operational Electricity Greenfield 100 24.8 31 MW 15 Coastal Power Corp. (100%, project (BOO) Philippines) 22 Philippines Energy Development Operational Electricity Divestiture 40 338.0 1,143 MW .. Others (40%, ..) Corporation (EDC) 23 Philippines Pantabangan-Masiway Operational Electricity Divestiture 100 129.0 112 MW .. First Philippine Holdings Corp. (FPHC) Hydroelectric Power Plant (100%, Philippines) Europe and Central Asia Country Project name Project Subsector Type of PPI Private Investment Capacity Contract Main sponsors status equity commitment size and period (%) (US$ type (years) millions) 1 Bulgaria Energy Invest Bulgaria Operational Electricity Greenfield 100 1.6 2 MW .. Advance Equity Holding (100%, project (BOO) Bulgaria) 2 Bulgaria Ruse-West Thermal Power Operational Electricity Divestiture 100 3.0 41 MW .. Gerrad (100%, Russian Federation) Plant 3 Bulgaria Varna Power Plant Operational Electricity Divestiture 100 385.0 1,260 MW .. CEZ Group (100%, Czech Republic) 4 Georgia Tbilgaz Operational Natural gas Divestiture 100 94.5 200,000 .. KazTransGaz (100%, Kazakhstan) connections 5 Macedonia, ESM AD Elektrostopanstvo Operational Electricity Divestiture 90 391.0 700,000 .. Energie Versorgung Niederosterreich FYR na Makedonija connections (EVN) AG (90%, Austria) 6 Poland Elektrocieplownia Zdunska Operational Electricity Divestiture 85 11.2 10 MW .. RAG Beteiligungs-Group (85%, Wola Germany) 7 Romania Transelectrica SA Operational Electricity Divestiture 10 45.0 8,800 km .. Others (10%, ..) 8 Russian Bryansk Municipal Utility Operational Electricity Lease contract 100 0.0 11,900 km 1 Russian Utility Systems (RKS) (100%, Federation Complex Russian Federation) 9 Slovak Slovenske Elektrarne AS Operational Electricity Divestiture 66 1,075.0 6,900 MW .. Enel SpA (66%, Italy) Republic 10 Turkey Akocak Hydropower Plant Construction Electricity Greenfield 100 73.7 79 MW 49 Akkok Group (100%, Turkey) project (BOT) 11 Turkey Uluabat Hydropower Plant Construction Electricity Greenfield 100 156.0 95 MW 40 Akkok Group (100%, Turkey) project (merchant) - 5 - Latin America and the Caribbean Country Project name Project Subsector Type of PPI Private Investment Capacity Contract Main sponsors status equity commitment size and period (%) (US$ type (years) millions) 1 Argentina Interconexion Gran Mendoza- Construction Electricity Greenfield 100 46.9 175 km 82 Transportadora Cuyana SA (100%, San Juan project (BOT) Argentina) 2 Argentina Interconexion Puerto Madryn- Construction Electricity Greenfield 100 155.1 530 km 82 Integracion Electrica Sur Argentina SA Pico Truncado project (BOT) (INTESAR) (100%, Argentina) 3 Argentina Interconexion Rincon Santa Construction Electricity Greenfield 100 239.0 672 km 82 Isolux (..%, Spain) Maria-Rodriguez North project (BOT) 4 Argentina Interconexion Rincon Santa Construction Electricity Greenfield 100 158.4 240 km 82 Integracion Electrica Sur Argentina SA Maria-Rodriguez South project (BOT) (INTESAR) (100%, Argentina) 5 Argentina Termoelectrica Jose de San Construction Electricity Greenfield 100 548.0 830 MW .. Endesa (Spain) (..%, Spain), Total SA Martin project (..%, France), Duke Energy Corp. (..%, (merchant) United States), Petrobras (..%, Brazil), AES Corp. (..%, United States), Electricite de France (..%, France) 6 Argentina Termoelectrica Manuel Construction Electricity Greenfield 100 511.0 830 MW .. AES Corp. (..%, United States), Belgrano project Electricite de France (..%, France), (merchant) Endesa (Spain) (..%, Spain), Total SA (..%, France), Petrobras (..%, Brazil), Duke Energy Corp. (..%, United States) 7 Brazil Aggreko-Manaus Energia Operational Electricity Greenfield 100 3.2 40 MW 1 Aggreko Plc (100%, United Kingdom) Power Station project (rental) 8 Brazil ATE II Transmissora de Construction Electricity Greenfield 100 280.0 922 km 30 Abengoa (100%, Spain) Energia project (BOT) 9 Brazil Companhia de Transmissao Operational Electricity Divestiture 74.9 535.0 11,814 km .. Interconexion Electrica SA (ISA) (51%, de Energia Eletrica Paulista Colombia) (CTEEP) 10 Brazil Cuiaba-Itumbiara Construction Electricity Greenfield 100 420.8 811 km 30 Elecnor (100%, Spain) Transmission Line project (BOO) 11 Brazil Porto Primavera-Dourados- Construction Electricity Greenfield 100 170.2 490 km .. Elecnor (34%, Spain), Isolux (34%, Imbirissu Transmission Line project (BOO) Spain), Cobra Group (34%, Spain) 12 Brazil Rio do Fogo Wind Farm Operational Electricity Greenfield 100 93.0 49 MW .. Iberdrola SA (100%, Spain) project (BOO) 13 Brazil Santa Rosa II Hydroelectric Construction Electricity Greenfield 100 50.0 30 MW .. Engevic Engenharia SA (100%, Brazil) Plant project (BOO) 14 Brazil Uirapuru Transmission Line Construction Electricity Greenfield 51 46.3 122 km 30 ACS Group (Actividades de project (BOT) Construccion y Servicios) (41%, Spain) 15 Brazil Vila do Conde Transmissora Construction Electricity Greenfield 100 125.5 324 km 30 Cobra Group (34%, Spain), Isolux de Energia Ltda. project (BOT) (34%, Spain), Elecnor (34%, Spain) 16 Chile Los Vientos Thermal Plant Construction Electricity Greenfield 100 37.0 120 MW .. AES Corp. (91%, United States) project (merchant) 17 Colombia Electrificadora del Tolima Operational Electricity Divestiture 99.9 106.6 320,000 .. Enelar Pereira SA ESP (..%, Colombia), connections Aseo Capital SA ESP (..%, Colombia), Servicios Integrales de Valle (..%, Colombia), Energia y Alumbrado de Pereira SA ESP (..%, Colombia) - 6 - 18 Ecuador CATEG Management Distressed Electricity Management 100 0.0 400,000 5 Electricidad de Valencia (Eleval) Contract contract connections (100%, Venezuela, RB) 19 Ecuador Termoguayas Floating Power Operational Electricity Greenfield 100 103.0 150 MW 15 Keppel Group (100%, Singapore) Plant project (BOO) 20 Ecuador Villonaco Wind Power Construction Electricity Greenfield 80 26.0 15 MW .. Protocol Energy (80%, Canada) project (merchant) 21 Mexico Tamazunchale Pipeline Operational Natural gas Greenfield 100 181.0 125 km 26 TransCanada Pipelines Ltd. (100%, ..) project (BOO) 22 Mexico Tamazunchale Power Plant Construction Electricity Greenfield 100 500.0 1,135 MW 25 Iberdrola SA (100%, Spain) project (BOO) Middle East and North Africa Country Project name Project Subsector Type of PPI Private Investment Capacity Contract Main sponsors status equity commitment size and period (%) (US$ type (years) millions) 1 Algeria Medgaz Pipeline Construction Natural gas Greenfield 64 1,170.0 210 km 20 CEPSA (20%, Spain), Iberdrola SA project (BOT) (20%, Spain) 2 Algeria Shariket Kahraba Hadjret En Construction Electricity Greenfield 51 1,150.0 1,277 MW 20 Mubadala Development Company Nouss SpA project (BOT) (25%, United Arab Emirates), SNC Lavalin (27%, Canada) 3 Yemen, Rep. Aggreko Al Hudayah Power Operational Electricity Greenfield 100 7.9 50 MW 2 Aggreko Plc (100%, United Kingdom) Station project (rental) 4 Yemen, Rep. Aggreko Second Power Operational Electricity Greenfield 100 7.9 50 MW 2 Aggreko Plc (100%, United Kingdom) Station Yemen project (rental) South Asia Country Project name Project Subsector Type of PPI Private Investment Capacity Contract Main sponsors status equity commitment size and period (%) (US$ type (years) millions) 1 India Bhiwandi Distribution Operational Electricity Concession 100 22.0 160,000 10 Torrent Group (100%, India) Franchise connections 2 India Budhil Hydroelectric Project Construction Electricity Greenfield 100 92.5 70 MW 40 Lanco Group (100%, India) project (merchant) 3 India Drinidhar Power Project Construction Electricity Greenfield 100 6.4 5 MW 40 Lanco Group (100%, India) project (BOT) 4 India Karcham Wangtoo Construction Electricity Greenfield 100 1,260.0 1,000 MW 35 Jaiprakash Associates Ltd. (100%, Hydroelectric Project project (BOO) India) - 7 - 5 India Nagarjuna Power Project Construction Electricity Greenfield 100 958.3 1,015 MW 25 Lanco Group (74%, India), Nagarjuna project (BOO) Construction Company (26%, India) 6 India SV Power Private Ltd. Construction Electricity Greenfield 100 97.0 63 MW .. KVK Energy Private Ltd. (100%, India) project (BOO) 7 India Upper Khauli Power Project Construction Electricity Greenfield 100 6.4 5 MW 40 Lanco Group (100%, India) project (BOT) 8 India Vamshi Hydro Power Project Construction Electricity Greenfield 100 12.3 10 MW 40 Lanco Group (100%, India) project (BOT) 9 Pakistan Orient Power Project Construction Electricity Greenfield 100 170.0 225 MW 30 Oman Oil Company SAOC (49%, project (BOO) Oman) 10 Pakistan Alstom Power Rentals Operational Electricity Greenfield 100 32.1 136 MW 3 Alstom (100%, France) Sheikhupura project (rental) Sub-Saharan Africa Country Project name Project Subsector Type of PPI Private Investment Capacity Contract Main sponsors status equity commitment size and period (%) (US$ type (years) millions) 1 Angola Aggreko Caminhos de Ferro Operational Electricity Greenfield 100 4.7 30 MW 2 Aggreko Plc (100%, United Kingdom) de Angola project (rental) 2 Angola Aggreko Cabinda Temporary Operational Electricity Greenfield 100 4.7 30 MW 2 Aggreko Plc (100%, United Kingdom) Power Station project (rental) 3 Gambia, The National Water and Electricity Operational Electricity Management 100 0.0 40 MW 5 Global Management System (100%, Co. Management Contract contract The Gambia) 4 Kenya Aggreko Embakassi and Operational Electricity Greenfield 100 7.9 100 MW 1 Aggreko Plc (100%, United Kingdom) Eldoret Power Stations project (rental) 5 Kenya Kenya Electricity Generating Operational Electricity Divestiture 30 108.8 945 MW .. Others (30%, ..) Co. Ltd. 6 Kenya Kenya Power and Lighting Operational Electricity Management 100 0.0 800,000 2 Manitoba Hydro International (100%, Co. Management Contract contract connections Canada) 7 South Africa Darling Wind Farm Construction Electricity Greenfield 26 9.9 5 MW 20 Darling Independent Power Producer project (BOO) Pty Ltd. (26%, South Africa) 8 Tanzania Aggreko Ubungo Temporary Operational Electricity Greenfield 100 6.3 40 MW 2 Aggreko Plc (100%, United Kingdom) Power Station project (rental) 9 Tanzania Alstom Power Rentals Operational Electricity Greenfield 100 6.3 40 MW 2 Alstom (100%, France) Mwanza project (rental) 10 Tanzania Dowans Lease Power Construction Electricity Greenfield 100 15.8 100 MW 2 Dowans Holdings Ltd. (100%, United Ubungo project (rental) Arab Emirates) 11 Uganda Aggreko Jinja Temporary Operational Electricity Greenfield 100 11.8 50 MW 2 Aggreko Plc (100%, United Kingdom) Power Station project (rental) - 8 -