Pinsent Masons advises International Finance Corporation on milestone Bhutan investment

IFC is providing US$20 million in long-term finance to Bhutan Power Corporation Limited, which is responsible for electricity transmission, distribution and supply across the country.

The investment is designed to help modernise Bhutan’s power distribution system, strengthen the national grid, and deliver more reliable electricity to households and businesses. In addition to the financing, the investment includes a partnership between IFC and the Bhutan Power Corporation Limited to strengthen the company’s environmental, social and governance standards.

The financing is supported by the International Development Association’s Private Sector Window, which was launched in 2017 to spur private sector investment in economically developing countries.

The Pinsent Masons team on the matter was led by Singapore project finance partner James Harris and included senior associate Olivia Wang, and associates Logan Pua and Yuhan Liu.

Commenting on the matter, James said: ‘We are pleased to have advised the IFC on a significant investment in Asia designed to empower a country to build the infrastructure needed to power economic growth and be involved in the transition to renewable energy.’