Delpos International // Experience // Asia





		asia dodson lindbloom hydropower / india First Private Hydropower Project in India Delphos International acted as advisor to Dodson-Lindblom International ("DLI") to help in raising $10 million in project financing for a 12 MW rehabilitation project in the State of Maharashtra near Mumbai, India. This was the first private hydropower project in India. By installing a new turbine and generator with greater capacity, the facility will produce more than 40 million kilowatt hours of electricity each year for sale under the take-or-pay power purchase agreement. Delphos International worked with OPIC to characterize the project as an "expansion" in order to structure and arrange financing for 75% of the total project costs. This debt package was provided by OPIC and the Indian Renewable Energy Development Agency (IREDA). Remaining project costs were financed by $3 million of equal equity contributions from DLI and its passive investment partner, a Michigan pension fund. mountain pastures dairy food processing / afghanistan Mountain Pastures Dairy Company is a venture-stage company that was formed to process and distribute dairy products in Afghanistan. The Company's goal is to develop and lead the Afghan market for processed branded dairy products, fruit juice and bottled drinking water. Delphos International worked with Mountain Pastures in developing the original business plan and financial model which included obtaining a monetization grant from the US Department of Agriculture in the form of milk powder. Ultimately, an OPIC loan of $6 million was secured to cover a portion of the total project costs estimated at $10 for the development of three dairy processing and distribution plants. Mountain Pastures plans to begin operations in the spring of 2007, and represents one of the largest agribusiness private investments in the region to date. padi murni agriculture / indonesia Delphos International is working with Padi Murni to obtain financing for the construction and operation of a rice milling facility in Indonesia. The project will cost an estimated $27 million, with $15 million being financed with OPIC debt financing which is currently under review. The project will improve local supply chain efficiencies in the area by introducing state-of-the-art and cost effective technologies and business practices, and will initially reduce technical losses from solar drying, storage and milling by up to 6%. Additionally, the project will increase pre-mill-gate yields and reduce harvesting losses by providing credit to farmers as part of a contract farming system. ormat power / philippines One of ExIm Bank's First Project Financings As financial advisor to Ormat, Delphos International utilized a TDA feasibility study to arrange two Ex-Im Bank Mixed Credit facilities (a tied-aid structure consisting of 65% loan and 35% USAID grant) for two geothermal projects in the Philippines (Mak Ban and Bacon Manito). On a parallel track, Delphos International arranged a US Ex-Im Bank project financing of $173 million for a 125MW geothermal project located in the Leyte Geothermal Field (Upper Mahiao) in 1995. In 1997, Delphos International arranged a second Ex-Im Bank project finance facility of $50 million for a follow-on optimization project at the Leyte Geothermal Field. MIGA insured Ormat International's equity investment against political risks for these projects.