Independent Power Projects in Developing Countries: Legal Investment Protection and Consequences for Development »

For developing countries, a stable and secure supply of electricity is crucial for development, and for their populations' well-being. Since the early 1990s, the main mechanism for constructing power generation facilities in developing countries has

Part I. Introduction. 1. Foreign Direct Investment in Power Generation in a Developing Country.

Part II. A Multi-faceted Investment Protection: Legal Structure and Risk Allocation. 2. The Developing Country’s Power Sector and the Need for Investment Protection. 3. Legal and Financial Structure. 4. Passing through the Project Company’s Obligations. 5. The Project Company’s Remuneration: Firm Capacity. 6. Protection against Changes in Law and Changes in Tax. 7. Breach of Contract, Remedies and Host Government Responsibility. 8. External Investment Protection Measures. 9. Legal Characterizations of the IPP Model’s Investment Protection.

Part III. The IPP Model’s Consequences for Development. 10. The International IPP Market: Can It Maximize Social Welfare? 11. Risk-bearing Superiority and Exposure to Market Risks. 12. The Host Country’s Procurement Process Decides the Sponsors’ Incentives. 13. The East Asian Crisis and the IPP Model’s Experiences. 14. An Analysis of IPP Case Law. 15. A Scope for Proactive Legal Adjudication. 16. The Role of Political Risk Coverage. 17. The IPP Model’s Consequences for Development: A Mixed Record. 18. Will Rectification Compromise the Private Sector’s Willingness to Invest?

Part IV. Conclusions and Perspectives. 19. The Interaction between Investment Protection and Development.

List of Sources. Cases. Claim Determinations for Political Risk Coverage. Bibliography.Index