i

Calendar Year 2017

Greenhouse Gas Emissions Inventory Report

Prepared for:

The U.S. Overseas Private Investment Corporation

Prepared by:

FINAL REPORT

May 2019

SC&A, Inc.

2200 Wilson Blvd., Suite 300

Arlington, VA 22201

(703) 893-6600 

www.scainc.com
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TABLE OF CONTENTS

EXECUTIVE SUMMARY................................................................................................. 1

RECAP OF THE GHG INVENTORY PROGRAM ........................................................... 2

Revisions to the Baseline Inventory............................................................................. 2

CY 2008 - CY 2012 Inventories ................................................................................... 3

CY 2013 Inventory....................................................................................................... 4

CY 2014 Inventory....................................................................................................... 4

CY 2015 Inventory....................................................................................................... 5

CY 2016 Inventory....................................................................................................... 5

CY 2017 Inventory....................................................................................................... 5

CY 2017 METHODOLOGY............................................................................................. 6

Inventory Boundary ..................................................................................................... 6

Inventory Structure ...................................................................................................... 6

Project Screening ........................................................................................................ 6

Development of Emission Estimates ........................................................................... 7

Tier A – Power Generation Sources......................................................................... 8

Tier B – Oil & Gas and Other Large Sources ........................................................... 8

Tier C – Smaller Sources ......................................................................................... 8

Buffer for Additional Sources.................................................................................... 8

RESULTS...................................................................................................................... 11

Appendix A – List of Active Projects.............................................................................. 18

Appendix B – Project Emissions Calculations ............................................................... 29

Appendix C – Common Conversions ............................................................................ 66

Appendix D – Annotated Bibliography........................................................................... 68
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TABLES

Table 1. CY 2017 Short List of Carbon-Intensive Projects .............................................. 9

Table 2. Short List of Past Carbon-Intensive Projects................................................... 10

Table 3. Technical Profile of Carbon-Intensive Projects (CY 2007 – CY 2017)............. 12

Table 4. Tier A Historical Project Emissions (Short Tons CO2e) ................................... 14

Table 5. Tier B Historical Project Emissions (Short Tons CO2e) ................................... 15

Table 6. Tier C Historical Project Emissions (Short Tons CO2e)................................... 16

Table 7. Summary of OPIC Historical Portfolio Emissions (Short Tons CO2e).............. 17
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FIGURES

Figure 1. CY 2017 Project Screening Process ................................................................ 7

Figure 2. OPIC Active Portfolio GHG Emissions, CY 2007 – CY 2017 ......................... 11
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EXECUTIVE SUMMARY

SC&A, Inc. (SC&A) performed an independent assessment of greenhouse gas (GHG) 

emissions from projects supported by the U.S. Overseas Private Investment Corporation 

(OPIC). GHGs are atmospheric compounds that absorb and emit solar radiation in the 

thermal infrared range of the electromagnetic spectrum. An increase in the atmospheric 

concentration of GHGs, in particular carbon dioxide (CO2), has been linked to changes in 

the global climate and adverse impacts on both human and natural systems. In response 

to the challenges posed by climate change, initiatives are being developed to assess and 

abate GHG emissions from anthropogenic sources. 

This report, prepared by SC&A, presents the analysis undertaken to quantify calendar 

year (CY) 2017

1 GHG emissions from “active” OPIC-supported projects. “Active” projects 

are defined as all insurance contracts in force and all guaranty and direct loans with an 

outstanding principal balance at the end of OPIC’s fiscal year (September 30, 2018 for 

this CY 2017 Report).

OPIC is required to undertake a project-specific GHG analysis of all projects that emit 

more than 25,000 short tons of carbon dioxide equivalent (CO2e) per year (STPY). These 

projects are hereafter referred to as “carbon-intensive projects”. To account for projects 

that emit less than 25,000 STPY of CO2e, OPIC adds a “buffer” equal to 5% of the 

aggregate emissions from the carbon-intensive projects.

OPIC’s CY 2017 GHG inventory is an estimated 7,820,596 short tons of CO2e. In CY 

2017, there was one new carbon-intensive project at University of Central Asia (Tier C) 

that became operational and their emissions were assessed for this inventory. In 

addition, one project dropped out of OPIC’s portfolio due to loan repayment, namely 

Power Finance Trust Ltd., also known as Isagen SA (Tier A). Total portfolio emissions 

decreased by 5% or 384,467 short tons CO2e relative to CY 2016.

This is OPIC’s eleventh annual GHG report, and this is the sixth year that SC&A has 

prepared the report for OPIC. The first five annual GHG reports, including the CY 2007 

Baseline Inventory, were prepared by Pace Global.

 

1 OPIC’s fiscal year does not match the fiscal years of most of its clients (which are by calendar year). OPIC requests GHG data from 

its clients from the most recently completed calendar year. For this reason, OPIC’s GHG reporting lags 1 year behind.
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RECAP OF THE GHG INVENTORY PROGRAM

In order to assess the GHG emissions from OPIC’s portfolio, a Baseline Inventory was 

completed in March 2009 for CY 2007 emissions. In the CY 2007 Baseline Inventory, 

“carbon-intensive projects” were defined as active2 projects having a maximum Potentialto-Emit (PTE) of more than 100,000 STPY of CO2e. Projects exceeding this threshold 

pertained to the energy, oil and gas, transportation, mining, manufacturing, and 

construction sectors.

The Baseline Inventory excluded direct biogenic emissions, accidental chemical releases, 

and project construction emissions. Also excluded were indirect emissions related to 

purchased electricity or heat supply (including steam). For that reason, projects in the 

finance, banking, insurance, and service sectors were excluded from the list of carbonintensive projects, given that their carbon footprint is driven primarily by indirect energy 

purchases. Should direct emissions be generated from projects in the finance, banking, 

insurance, and service sectors, these would be captured in the “buffer”, as described 

below.

To account for non-carbon-intensive projects in the Baseline Inventory (i.e., sources that 

emitted less than 100,000 short tons of CO2e per year), OPIC added a “buffer” equal to 

5% of the aggregate emissions from carbon-intensive projects.

The maximum PTE for each carbon-intensive project was estimated based on best 

available project information, which typically included a combination of fuel consumption 

data, the amount of electricity generated, generating capacity, relative project size, and 

an assumed operating capacity of 8,000 hours per year (unless otherwise noted). OPIC 

solicited feedback from the individual project sponsors on methods, assumptions, and 

operational data to corroborate the soundness of its emission estimates. 

The Baseline Inventory used project sponsor-provided information in cases where OPIC

received responses to the requests for data. For projects where project sponsor feedback 

was not received, emission estimates were developed based on a project’s maximum 

PTE. 

REVISIONS TO THE BASELINE INVENTORY

Various Egypt Subsidiaries (Apache)

In the CY 2009 GHG inventory report, the original CY 2007 emissions baseline was 

revised up by 1,566,685 short tons CO2e to account for the additional 51% share of the 

Various Egypt Subsidiaries (Apache) project, which mistakenly reported its emissions in 

relation to its equity share of the project (49%) for the baseline year. Since OPIC requires 

 

2

 For the CY 2007 baseline inventory, “active” projects were defined as all insurance contracts in force and all guaranty and direct 

loans with an outstanding principal balance as of June 30, 2008. For all subsequent inventories, the “active” date was September 

30 of the subsequent year (to coincide with the end of OPIC’s Fiscal Year). To mirror the EPA’s GHG reporting requirements (40 

CFR Part 98), OPIC lowered the minimum reporting threshold for “carbon-intensive projects” to 25,000 STPY of CO2e starting with 

the CY 2009 GHG inventory.
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that 100% of emissions be accounted for, regardless of the project sponsor’s equity 

share, the additional project emissions were added to the inventory. The discrepancy was 

rectified and reported in the CY 2009 GHG inventory report to ensure consistency with 

OPIC’s GHG accounting methodology. The revised CY 2007 emission baseline was

51,949,178 short tons of CO2e.

Latin America Power III Fund 

The Latin American Power III Fund (LP III) is a “blind pool” fund, and the downstream 

investments had not been finalized when OPIC committed to the fund. Therefore, OPIC 

allocated 2,077,500 short tons of CO2e to the LP III Fund in the CY 2007 Baseline 

Inventory (which was equal to the projected PTE from the thermal power projects in the 

LP III pipeline at that time), and subsequent GHG reports. However, in FY 2014, LP III 

became fully invested without having invested in any projects that had a PTE greater than 

25,000 STPY of CO2e. Because LP III did not have any projects in its portfolio that 

exceeded OPIC’s GHG threshold for carbon-intensive projects, OPIC removed these 

allocated emissions from all previous GHG inventories. After accounting for the correction 

from the Apache Project (see above), and removing the LP III emissions from the Baseline 

Inventory, the revised CY 2007 emissions baseline was 49,767,803 short tons of CO2e.

CY 2008 - CY 2012 INVENTORIES

For the CY 2008 GHG inventory, Pace Global followed the same process as during the 

Baseline Inventory development. The CY 2008 emission estimates were eventually 

revised up to account for a misallocation of Apache’s GHG emissions, as discussed 

above. The revised CY 2008 GHG emissions total for projects active as of September 30, 

2009, equaled 32,915,765 short tons of CO2e. The large decrease in emissions was 

primarily the result of a large coal power generation project (Jorf Lastar Energy) becoming

inactive (due to loan repayment). Removal of this project accounted for over 85% of the 

CO2e reductions. 

Starting with the CY 2009 GHG inventory, OPIC lowered the minimum threshold for 

“carbon-intensive projects” projects from 100,000 to 25,000 STPY of CO2e to match the 

U.S. EPA’s GHG reporting requirements (40 CFR Part 98). Because projects that were 

previously included in the buffer (i.e., projects between 25,000 and 100,000 STPY of 

CO2e) were now being included as carbon-intensive projects, OPIC defined a new buffer 

to account for projects emitting less than 25,000 STPY of CO2e (see page 4 for a detailed 

explanation). Total CY 2009 GHG emissions for projects active as of September 30, 2010,

equaled 31,824,461 short tons of CO2e.

Subsequent inventories followed the same inventory development process as for the CY 

2009 GHG inventory. CY 2010 GHG emissions for projects active as of September 30, 

2011, totaled 32,480,195. CY 2011 GHG emissions for projects active as of September 

30, 2012 amounted to 32,047,719 short tons of CO2e, and CY 2012 GHG emissions for 

projects active as of September 30, 2013, totaled 7,970,993 short tons of CO2e.

Emissions decreased considerably in CY 2012 because a large number of carbon-
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intensive projects became inactive (due to loan repayment or contract cancellation), while 

only a few carbon-intensive projects became active. 

CY 2013 INVENTORY 

The CY 2013 GHG inventory followed the same inventory development process as in the 

previous year, with one important exemption; namely, the exclusion of estimated 

emissions for the Latin American Power III Fund (see page 3). Total CY 2013 emissions 

were 7,586,646 short tons of CO2e. 

CY 2014 INVENTORY 

For the CY 2014 GHG inventory, SC&A reviewed OPIC financial reports to screen 

projects likely to meet the “carbon-intensive projects” threshold of 25,000 STPY of CO2e. 

Additional scrutiny was given to projects previously identified as carbon-intensive, as well 

as new projects to OPIC’s portfolio that were active as of September 30, 2015. The 

outcome of the screening analysis resulted in a short list of thirteen (13) projects having 

a maximum PTE value equal or greater than 25,000 STPY of CO2e. To provide assurance 

of GHG estimates, OPIC and SC&A solicited additional supporting evidence from project 

sponsors to corroborate GHG assertions and assumptions made by individual project 

sponsors. 

Change in Buffer Calculation

For the CY 2007 and CY 2008 inventories, the buffer for additional sources was calculated 

as 5% of the sum of emissions from projects over 100,000 STPY of CO2e – the threshold 

for “carbon-intensive projects” at the time. After the threshold for a “carbon-intensive 

project” was lowered to 25,000 STPY CO2e for the CY 2009 inventory, the buffer for 

additional sources was defined each year such that the sum of projects emitting between 

25,000 and 100,000 STPY and the buffer would equal 5% of the sum of emissions from 

projects over 100,000 STPY of CO2e. This maintained the proportion of emissions from 

projects above the old “carbon-intensive” threshold of 100,000 STPY of CO2e.

Starting with the CY 2014 inventory, the buffer for additional sources has been calculated 

as 5% of the emissions from all carbon-intensive projects (i.e., projects emitting more 

than 25,000 STPY). In the CY 2014 report, OPIC applied this calculation retroactively to 

emissions reported in CY 2009 – CY 2013 to have a consistent picture of potential 

additional sources across all inventory years. This change does not have a significant 

impact on past reported emissions and yields a more conservative estimate than the 

previous method.

Additional Corrections to the CY 2014 Inventory

The CY 2014 GHG inventory also corrected the CY 2013 estimates for CGLOB Astarta 

Zhadanivka Kyiv and Qalaa Holdings based on additional communication with the project 

sponsor. The Results section of this report presents the corrected CY 2013 estimates for 

these two projects, as well as the updated buffer for additional sources.
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The estimated CY 2014 GHG emissions for projects active as of September 30, 2015

amounted to 7,772,851 short tons of CO2e.

CY 2015 INVENTORY 

The CY 2015 GHG inventory followed the same inventory development process as the 

previous year. Regarding emission methods, a revision was made to the fugitive and 

combustion emission factors for the West Africa Gas Pipeline (WAGP) project to increase 

traceability with cited method sources. These emission factors were applied retroactively

and had the effect of revising down WAGP’s maximum PTE as well as its CY 2009 and 

CY 2010 emission estimates. The estimated CY 2015 GHG emissions for projects active 

as of September 30, 2016 amounted to 7,689,416 short tons of CO2e.

CY 2016 INVENTORY 

The CY 2016 GHG inventory continued the inventory development process developed in 

previous years. The estimated CY 2016 GHG emissions for projects active as of 

September 30, 2017 amounted to 8,205,063 short tons of CO2e.

CY 2017 INVENTORY 

The CY 2017 GHG inventory continued the inventory development process developed in 

previous years. The estimated CY 2017 GHG emissions for projects active as of 

September 30, 2018 amounted to 7,820,596 short tons of CO2e.
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CY 2017 METHODOLOGY

INVENTORY BOUNDARY

The CY 2017 inventory boundary extends to direct emissions from fossil fuel combustion 

associated with “active” projects having a maximum PTE over 25,000 STPY of CO2e. 

“Active” projects are defined as all insurance contracts in force and all guaranty and direct 

loans with an outstanding principal balance at the end of OPIC’s last fiscal year (i.e., 

September 30, 2018). Excluded from the inventory boundary were direct biogenic

emissions, refrigerant losses, process/chemical releases (e.g., methane from wastewater 

treatment plants), indirect emissions related to purchased electricity or heat supply 

(including steam), and temporary emissions from a project’s construction. 

In order to maintain the original GHG inventory program objectives while addressing 

changing characteristics of new project sponsors, two criteria have been added to the 

inventory boundary. First, the reporting threshold of 25,000 STPY of CO2e applies to 

those assets or investment platforms specified in the project clearance description as 

eligible for OPIC funding. Second, for project sponsors with assets located in various 

countries, the reporting threshold of 25,000 STPY of CO2e is assessed for all assets 

sharing the same loan identification number. 

INVENTORY STRUCTURE 

The carbon-intensive projects included in the CY 2017 GHG inventory are organized into 

three tiers. Tier A projects are fossil fuel-fired, power generation projects that emit more 

than 100,000 STPY of CO2e. Tier B projects are defined as projects in the oil and gas, 

mining, transportation, manufacturing, construction, or other sectors that have a PTE 

greater than 100,000 STPY of CO2e. Tier C projects are those that emit between 25,000 

and 100,000 STPY of CO2e. Additionally, the CY 2017 GHG inventory includes an 

estimate of GHG emissions from projects determined to be below the threshold of 25,000 

STPY of CO2e denoted as Buffer for Additional Sources (see page 8). 

PROJECT SCREENING

SC&A evaluated financial and technical documentation provided by OPIC to identify the 

subset of projects meeting OPIC’s reporting criteria. The review and analysis of this 

documentation was conducted in several steps, as shown in Figure 1. 

The starting point for the CY 2017 GHG inventory was a set of financial reports that listed 

647 projects receiving OPIC support in the form of direct investment and guarantees, 

insurance, frameworks, or funds. SC&A consolidated information from these financial 

reports and extracted the set of projects that exhibited a financial exposure and 

disbursement status greater than zero. This first step resulted in a set of 529 entries that 

reflects the pool of active projects for consideration in the current inventory cycle. Active 

CY 2017 projects are listed in Appendix A. The second step consisted of developing a 

consolidated list of active projects by grouping entries sharing a common loan 

identification number into Tier A, Tier B, or “Other” according to their economic sector. 

Entries classified as “Other” were projects in the agriculture, communications, finance, 
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services, and tourism sectors. Third, SC&A developed a priority list of 178 projects by 

removing entries that were determined not to be carbon-intensive in the CY 2017 GHG 

Inventory based on professional judgement and institutional knowledge of a project’s 

operations, as well as excluding projects in the finance, banking, insurance, and service 

sectors, because their emissions are the result of indirect energy purchases (e.g. 

purchased electricity or steam) – activities that fall outside of OPIC’s inventory scope. 

Finally, SC&A performed project-specific GHG assessments to ascertain which projects 

emitted or had a maximum PTE of at least 25,000 STPY of CO2e. The outcome of this 

final step was a short list of 16 entries, which is presented in Table 1 along with projects 

that were deemed to be carbon-intensive in past inventories, but are no longer active (i.e., 

no longer part of OPIC’s portfolio) for this CY 2017 GHG inventory. Table 1 also indicates 

the calendar year when a project first triggered the reporting requirements.

Figure 1. CY 2017 Project Screening Process

NOTE: the values in parentheses indicate the number of projects assessed in each step of the 

process for a given category.

DEVELOPMENT OF EMISSION ESTIMATES

SC&A reviewed relevant project-level quantification methodologies adopted in previous 

OPIC reports and verified that previous methodologies were consistent with OPIC’s GHG 

reporting policy. SC&A applied emission quantification methodologies from prior GHG 

inventories for projects with a first year of reporting of CY 2011 or earlier. In other cases, 

SC&A conferred with OPIC on suitable emission methodologies that maintained 

continuity with past GHG assessments and could reasonably characterize a project’s 

activities, scale, and complexity. 

Table 1 shows the list of short-listed projects, inclusive of projects that were active in 

FY2018 but not yet operational during CY 2017 (e.g., under construction). For the record, 

a list of past short-listed projects is presented in Table 2. 

Active Projects (529)

Consolidated List (Ʃ=529)

• Tier A (83)

• Tier B (52)

• Other (394)

Priority List (Ʃ=178)

• Tier A (18)

• Tier B (34)

• Other (126)

Short List (Ʃ=16)

• Tier A (9)

• Tier B (4)

• Tier C (3)

Financial Reports (647)
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Tier A – Power Generation Sources

SC&A and OPIC identified five (5) Tier A projects that were both active and in operation

in CY 2017. Four (4) additional projects were screened as active but still under 

construction and thus not subject to reporting in CY 2017. In general, the maximum PTE 

for Tier A projects is based on an operating capacity of 8,000 hours per year (unless 

otherwise noted), fuel consumption data (where available), the projects’ powergenerating capacity in megawatts (MW), and/or specific estimates of GHG emissions 

provided by the project sponsor (when available). The preferred method relied on 

emission estimates derived from fuel consumption data. Project-level activity data, as well 

as reference conversion and emission factors used in the assessments of annual GHG 

emissions, are detailed in Appendix B. CY 2017 Tier A emissions were 2,753,980 short 

tons of CO2e. 

Tier B – Oil & Gas and Other Large Sources

Tier B projects are projects in the oil and gas, mining, transportation, manufacturing, 

construction, or other sectors which have a PTE greater than 100,000 STPY of CO2e. 

SC&A and OPIC identified three (3) Tier B projects that were both active and in operation

in CY 2017. One (1) additional project was screened as active but still under operation 

and thus not subject to reporting in CY 2017. Project emissions were estimated on the 

basis of production throughput, fuel consumption data, and/or GHG emissions data from 

similar facilities. All maximum PTE estimates assume an operating capacity of 8,000 

hours per year, unless otherwise noted. Emission factors and other industry-relevant 

metrics were obtained from credible, published information sources. Activity data and 

calculation details are shown in Appendix B. CY 2017 Tier B emissions were 4,665,895 

short tons of CO2e.

Tier C – Smaller Sources

The initial screen for Tier C projects excluded projects already known to exceed 100,000 

STPY of CO2e and projects previously determined to be below the threshold of 25,000 

STPY CO2e. SC&A performed inventory calculations for shortlisted projects based on 

project descriptions and project sponsor-provided information, as well as published data 

and emissions factors. SC&A and OPIC identified three (3) Tier C projects on the CY 

2017 short list. Activity data and calculation details are shown in Appendix B. Note that 

two Tier C projects had emissions that below the 25,000 STPY reporting threshold, and 

therefore those emissions were not aggregated to the Tier C emission subtotal of 28,312 

short tons of CO2e.

Buffer for Additional Sources

The OPIC GHG inventory directly assesses emissions from projects that exceed the 

threshold of 25,000 STPY of CO2e. It is plausible that several projects do not exceed 

25,000 STPY of CO2e annually but may still have a sizeable contribution to OPIC’s 

carbon footprint. To maintain a conservative estimate of emissions from non-carbonintensive projects, OPIC applies a buffer that is scaled to 5% of the emissions from 

carbon-intensive projects in a given year. The CY 2017 Buffer for Additional Sources 

was 372,409 short tons of CO2e.
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Table 1. CY 2017 Short List of Carbon-Intensive Projects

Tier Project Country Sector Reporting Year

First Last

Operational

Tier A AES Jordan Jordan Energy – Power CY2008 CY2017

Tier A AES Levant Jordan Energy – Power CY2014 CY2017

Tier A Contour Global – Cap Des Biches Senegal Energy – Power CY2016 CY2017

Tier A Contour Global – Togo Togo Energy – Power CY2010 CY2017

Tier A Gaza Private Generating PLC Gaza Energy – Power CY2007 CY2017

Tier B Acu Petroleo S.A. Brazil Energy – Oil and Gas CY2016 CY2017

Tier B Various Egypt Subsidiaries (Apache) Egypt Energy – Oil and Gas CY2007 CY2017

Tier B West African Gas Pipeline Ghana Energy – Oil and Gas CY2007 CY2017

Tier C Aga Khan Hospital & Medical College Pakistan Health Care CY2014 CY2017

Tier C Qalaa Holdings (aka Citadel) Egypt Manufacturing CY2012 CY2017

Tier C University of Central Asia Tajikistan Educational Services CY2017 CY2017

Under Construction

Tier A Amandi Energy Limited Ghana Energy – Power CY2017 CY2017

Tier A Azura-Edo Power Project – Senior Loan Nigeria Energy – Power CY2017 CY2017

Tier A Negev Energy – Ashalim Thermal Solar Israel Energy – Power CY2017 CY2017

Tier A Te Power Company SASU Guinea Energy – Power CY2017 CY2017

Tier B Compagnie des Bauxites de Guinee Guinea Energy – Power CY2017 CY2017

Source: OPIC and SC&A, Inc.
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Table 2. Short List of Past Carbon-Intensive Projects

Tier Project Country Sector Reporting Year

First Last

Tier A Adapazari Elektrik Uretim Turkey Energy – Power CY2007 CY2012

Tier A AES Nigeria Nigeria Energy – Power CY2007 CY2012

Tier A Grenada Electricity Services (WRB) Grenada Energy – Power CY2007 CY2013

Tier A Doga Enerji Turkey Energy – Power CY2007 CY2010

Tier A Gebze Elektrik Uretim Turkey Energy – Power CY2007 CY2011

Tier A Habibullah Coastal Power Pakistan Energy – Power CY2007 CY2008

Tier A Izmir Elektrik Uretim Turkey Energy – Power CY2007 CY2011

Tier A Jorf Lasfar Energy Morocco Energy – Power CY2007 CY2007

Tier A NEPC Consortium Power Bangladesh Energy – Power CY2007 CY2011

Tier A Paiton Energy Indonesia Energy – Power CY2007 CY2011

Tier A Pakistan Water & Power Authority Pakistan Energy – Power CY2007 CY2010

Tier A Power Finance Trust Ltd. (aka Isagen SA) Colombia Energy – Power CY2007 CY2016

Tier A Termovalle SCA Colombia Energy – Power CY2007 CY2012

Tier A Trakya Elektrik Uretim Turkey Energy – Power CY2007 CY2007

Tier B Accroven SRL Venezuela Energy – Oil and Gas CY2007 CY2008

Tier B Baku-Tblisi-Ceyhan Pipeline Azerbaijan Energy – Oil and Gas CY2007 CY2012

Tier B E.P. Interoil Papua New Guinea Energy – Oil and Gas CY2007 CY2011

Tier B Equate Petrochemical Kuwait Energy – Oil and Gas CY2007 CY2008

Tier B Foxtrot International Cote d’Ivoire Energy – Oil and Gas CY2007 CY2011

Tier B Lukoil RPK Vysotsk Russia Energy – Oil and Gas CY2007 CY2014

Tier B Natural Gas Liquids II Financing Nigeria Energy – Oil and Gas CY2007 CY2008

Tier B Wilpro Energy Services (El Furrial) Venezuela Energy – Oil and Gas CY2007 CY2008

Tier B Wilpro Energy Services (Pigap) Venezuela Energy – Oil and Gas CY2007 CY2008

Tier B Pannonia Ethanol Hungary Manufacturing CY2007 CY2015

Tier C CGLOB Astarta Zhadanivka Kyiv LLC Ukraine Agro-processing CY2007 CY2015

Tier C Dominica Electricity Services Dominican Republic Energy – Oil and Gas CY2009 CY2011

Tier C Jose Lindley Peru Manufacturing CY2009 CY2010

Tier C Joshi Technologies / Parko Services Colombia Energy – Oil and Gas CY2009 CY2015

Source: OPIC and SC&A, Inc.
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RESULTS

OPIC’s CY 2017 GHG inventory is an estimated 7,820,596 short tons of CO2e. In CY 

2017, there was one new carbon-intensive project at University of Central Asia (Tier C) 

that became operational and their emissions were assessed for this inventory. In 

addition, one project dropped out of OPIC’s portfolio due to loan repayment, namely

Power Finance Trust Ltd., also known as Isagen SA (Tier A). Total portfolio emissions 

decreased by 5% or 384,467 short tons CO2e relative to CY 2016. 

Figure 2 presents the GHG emission and project count trend for OPIC’s inventories 

from CY 2007 to CY 2017. For the project count, active and operational projects were 

accounted for, with the exclusion of active projects that are still under construction.

Figure 2. OPIC Active Portfolio GHG Emissions, CY 2007 – CY 2017
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The technical profile of projects deemed carbon-intensive since the inception of OPIC’s 

GHG inventory is represented in Table 3. Emission inventory details starting with the CY 

2007 Baseline Inventory and culminating with the CY 2017 GHG inventory are presented 

in Tables 4 through 6, which present historical emissions from Tier A, Tier B, and Tier C 

projects respectively. Table 7 summarizes GHG emissions of OPIC’s entire portfolio,

including emissions associated with potentially unaccounted sources (i.e., Buffer for 

Additional Sources).

Table 3. Technical Profile of Carbon-Intensive Projects (CY 2007 – CY 2017)

Project Name Description Capacity / Throughput Fuel Type

Accroven SRL NGL Facility 800 mmscf/day Natural Gas

Adapazari Elektrik Uretim Combined Cycle 777 MW Natural Gas

ACU Petroleo S.A. Oil & Petroleum Terminal 300 MW Natural Gas

AES Jordan Combined Cycle 370 MW Natural Gas & Diesel

AES Levant Engine-Based Power Generation 240 MW Heavy Fuel Oil & Natural Gas

AES Nigeria Engine-Based Power Generation 270 MW Natural Gas

Aga Khan Hospital & Medical College Power Plant, Boilers 4.8 MW Natural Gas

Amandi Energy Limited Combined Cycle 200 MW Fuel Oil & Natural Gas

Azura-Edo Power Project- Senior Loan Combined Cycle 450 MW Natural Gas

Baku-Tblisi-Ceyhan Pipeline Crude Oil Pipeline 1.2 million barrels/day Natural Gas & Diesel

CGLOB Astarta Zhadanivka Kyiv LLC Agro-processing 5.4 MW Natural Gas & Coal

Compagnie des Bauxites de Guinee Mining 28.3 MW Fuel Oil & Diesel

Contour Global – Cap Des BIches Power Plant 86 MW Fuel Oil

Contour Global - Togo Engine-Based Power Generation 100 MW Fuel Oil & Natural Gas

Doga Enerji Combined Cycle 180 MW Natural Gas

Dominica Electric Services Power Generation 7 MW Diesel

E.P. Interoil Crude Oil Refinery 32,500 barrels/day Crude Oil Refinery

Equate Petrochemical Petrochemical Facility 1540 MMBtu/hour Natural Gas

Foxtrot International Gas Extraction & Pipeline 100 mmscf/day Natural Gas

Gaza Private Generating PLC Combined Cycle 136.4 MW Natural Gas

Gebze Elektrik Uretim Combined Cycle 1554 MW Natural Gas

Grenada Electricity Services (WRB) Engine-Based Power Generation 18 MW Diesel

Habibullah Coastal Power Combined Cycle 140 MW Natural Gas

Izmir Elektrik Uretim Combined Cycle 1554 MW Natural Gas

Jorf Lasfar Energy Steam Boiler 1356 MW Coal

Jose Lindley Manufacturing - Natural Gas

Joshi Technologies / Parko Services Oil & Gas 20 million cubic meters/year Gas & Diesel

Lukoil RPK Vysotsk Oil & Petroleum Export Terminal 6.8 million metric tons/year Fuel Oil

Natural Gas Liquids II Financing NGL Facility 19.5 mmscf/day Natural Gas

Negev Energy Solar Power Generation 110 MW Solar & Natural Gas

NEPC Consortium Power Engine-Based Power Generation 313,105 MMBtu Natural Gas & Fuel Oil

Paiton Energy Steam Boiler 1220 MW Coal

Pakistan Water & Power Authority Combined Cycle 150 MW Natural Gas

Pannonia Ethanol Ethanol Production 240 million liters/year Natural Gas
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Project Name Description Capacity / Throughput Fuel Type

Power Finance Trust (aka Isagen) Combined Cycle 300 MW Natural Gas

Qalaa Holdings (aka Citadel) Manufacturing 24 million cubic meters /year Natural Gas

Te Power Company SASU Thermal Power Production 50 MW Thermal

Termovalle SCA Combined Cycle 205 MW Natural Gas

Trakya Elektrik Uretim Combined Cycle 478 MW Natural Gas

University of Central Asia Diesel Boiler 230 liters/hour Diesel

Various Egypt Subsidiaries (Apache) Oil & Gas Extraction & Processing 29,934,702 bbl/year

89,910 mmscf/year

Oil & Natural Gas

West Africa Gas Pipeline Gas Compression & Transmission 190 mmscf/day Natural Gas

Wilpro Energy Services (El Furrial) Gas Compression 60 MW Natural Gas

Wilpro Energy Services (Pigap) Gas Compression 100 MW Natural Gas
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Table 4. Tier A Historical Project Emissions (Short Tons CO2e)

Project Name Maximum 

PTE [1]

FY2008 FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018

CY2007 

Baseline

CY2008 

Emissions

CY2009 

Emissions

CY2010 

Emissions

CY2011 

Emissions

CY2012 

Emissions

CY2013 

Emissions

CY2014 

Emissions

CY2015 

Emissions

CY2016 

Emissions

CY2017 

Emissions

Adapazari Elektrik 

Uretim 2,706,499 2,106,754 2,106,754 2,441,657 2,426,053 2,309,241 R/C R/C R/C R/C R/C R/C

AES Jordan [2] 1,588,326 N/A 590,940 1,318,130 1,434,569 1,184,010 936,400 1,514,054 1,203,945 949,925 1,588,326 1,401,138

AES Levant 1,409,533 N/A N/A N/A N/A N/A N/A N/A 467,262 685,110 228,994 345,980

AES Nigeria 1,603,307 1,166,398 1,341,157 988,271 949,754 949,754 949,754 R/C R/C R/C R/C R/C

Contour Global 

Cap Des Biches 505,083 N/A N/A N/A N/A N/A N/A N/A N/A N/A 184,699 407,735

Contour Global -

Togo 587,305 N/A N/A N/A Below Threshold 46,561 126,192 161,830 55,467 210,901 496,564 329,875

Doga Enerji 816,057 740,762 740,762 672,014 655,981 R/C R/C R/C R/C R/C R/C R/C

Gaza Private 

Generating PLC 481,485 293,804 303,535 325,926 228,627 405,262 Below Threshold 161,215 193,406 253,808 246,460 269,253

Gebze Elektrik 

Uretim 5,412,998 4,121,923 4,121,923 4,794,979 4,833,330 4,535,511 R/C R/C R/C R/C R/C R/C

Grenada Electricity 

Services 141,127 114,571 121,156 141,127 135,237 134,371 131,206 130,221 R/C R/C R/C R/C

Habibullah Coastal 

Power 487,658 447,880 447,880 R/C R/C R/C R/C R/C R/C R/C R/C R/C

Izmir Elektrik 

Uretim 5,412,998 4,694,380 4,694,380 4,300,376 4,739,787 4,824,511 R/C R/C R/C R/C R/C R/C

Jorf Lasfar Energy 14,268,496 14,268,496 R/C R/C R/C R/C R/C R/C R/C R/C R/C R/C

NEPC Consortium 

Power 383,159 245,795 343,581 255,734 297,068 297,068 R/C R/C R/C R/C R/C R/C

Paiton Energy 10,045,869 9,553,044 9,553,044 9,624,125 9,854,076 10,045,869 R/C R/C R/C R/C R/C R/C

Pakistan Water & 

Power Authority [3] 522,490 522,490 522,490 283,937 283,937 R/C R/C R/C R/C R/C R/C R/C

Power Finance 

Trust (aka Isagen) 980,011 203,010 Below Threshold 300,706 305,181 305,181 305,181 775,357 980,011 963,992 963,992 R/C

Termovalle SCA 

[4] 714,070 Below Threshold

Below 

Threshold 223,983 223,983 Below Threshold R/C R/C R/C R/C R/C R/C

Trakya Elektrik 

Uretim 1,818,912 1,747,956 R/C R/C R/C R/C R/C R/C R/C R/C R/C R/C

NOTE: “N/A” indicates that a project was not yet active in the OPIC Portfolio during that year, and “R/C” indicates that the project was either repayed (loan or guarantee) or cancelled

(insurance) prior to the cutoff date for that year. Totals may not sum due to rounding. 

[1] Maximum PTE was calculated on the basis of a project’s maximum operating capacity. When maximum operating capacity could not be properly determined, the maximum PTE was 

set equal to the highest annual emission level assessed in this or prior OPIC GHG inventories.

[2] Sharp emission increase due to ramped-up energy production from 10,103,603 MMBtu in CY 2007 to 22,536,748 MMBtu in CY 2008.

[3] CY 2009 emissions are significantly lower due to fewer reported operating hours.

[4] CY 2009 emissions are significantly higher due to increased reported operating hours.
 Page 15 

Table 5. Tier B Historical Project Emissions (Short Tons CO2e)

Project Name Maximum 

PTE [1]

FY2008 FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018

CY2007 

Baseline

CY2008 

Emissions

CY2009 

Emissions

CY2010 

Emissions

CY2011 

Emissions

CY2012 

Emissions

CY2013 

Emissions

CY2014 

Emissions

CY2015 

Emissions

CY2016 

Emissions

CY2017 

Emissions

Accroven SRL 998,677 998,677 445,832 R/C R/C R/C R/C R/C R/C R/C R/C R/C

Acu Petroleo S.A. 350,000 N/A N/A N/A N/A N/A N/A N/A N/A N/A Below 

Threshold 126,160

Baku-Tblisi-Ceyhan 

Pipeline 787,577 707,672 707,672 787,577 723,214 671,605 584,200 R/C R/C R/C R/C R/C

E.P. Interoil 802,469 392,296 103,247 79,709 75,928 74,985 R/C R/C R/C R/C R/C R/C

Equate Petrochemical 720,573 720,573 680,311 R/C R/C R/C R/C R/C R/C R/C R/C R/C

Foxtrot International [2] 104,484 104,484 104,484 104,484 Below 

Threshold 27,746 R/C R/C R/C R/C R/C R/C

Lukoil RPK Vysotsk [3] 107,184 70,767 70,767 76,339 97,117 91,143 92,696 95,070 99,423 R/C R/C R/C

Natural Gas Liquids II 

Financing 390,806 244,048 244,048 R/C R/C R/C R/C R/C R/C R/C R/C R/C

Pannonia Ethanol 113,785 N/A N/A N/A N/A N/A 64,244 93,251 101,474 113,785 R/C R/C

Various Egypt Subsidiaries 

(Apache) [4] 4,539,735 3,071,932 3,244,189 3,294,654 3,465,842 4,438,554 4,178,447 4,056,437 4,012,346 3,891,093 4,007,937 4,539,735

West Africa Gas Pipeline 189,800 N/A N/A 189,800 70,925 86,617 86,617 86,617 86,617 68,281 68,281 Below 

Threshold

Wilpro Energy Services 

(El Furrial) 289,106 289,106 289,106 R/C R/C R/C R/C R/C R/C R/C R/C R/C

Wilpro Energy Services 

(Pigap) 571,090 571,090 571,090 R/C R/C R/C R/C R/C R/C R/C R/C R/C

NOTE: “N/A” indicates that a project was not yet active in the OPIC Portfolio during that year, and “R/C” indicates that the project was either repayed (loan or guarantee) or cancelled

(insurance) prior to the cutoff date for that year. Totals may not sum due to rounding. 

[1] Maximum PTE was calculated on the basis of a project’s maximum operating capacity. When maximum operating capacity could not be properly determined, the maximum PTE was 

set equal to the highest annual emission level assessed in this or prior OPIC GHG inventories.

[2] Foxtrot maximum PTE corresponds to the peak emissions year when the project was active. In 2010, Foxtrot operated for a minimal period of time and thus had corresponding GHG 

emissions below the established threshold.

[3] Lukoil had the Potential-to-Emit over 100,000 tons CO2 annually, although emissions were consistently reported below this level.

[4] In 2007 and 2008, Apache reported their emissions in relation to their equity share of the project (49%). OPIC accounts 100% of a project’s emissions regardless of equity share. As 

a result, emissions data for 2007 and 2008 were revised up to conform to OPIC standards. 
 Page 16 

Table 6. Tier C Historical Project Emissions (Short Tons CO2e)

Project Name Maximum 

PTE

FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018

CY2009 

Emissions

CY2010 

Emissions

CY2011

Emissions

CY2012

Emissions

CY2013

Emissions

CY2014

Emissions

CY2015

Emissions

CY2016 

Emissions

CY2017 

Emissions

Aga Khan Hospital & Medical 

College 72,965 N/A N/A N/A N/A N/A 25,064 28,653 29,093 28,312

CGLOB Astarta Zhadanivka Kyiv 38,404 [1] N/A N/A Below Threshold 36,886 25,470 38,404 32,202 R/C R/C

Dominica Electric Services 50,084 [1] 50,084 50,084 50,084 R/C R/C R/C R/C R/C R/C

Jose Lindley 25,000 [1] 25,000 25,000 R/C R/C R/C R/C R/C R/C R/C

Joshi Technologies / Parko 

Services 91,861 [1] 30,398 57,826 43,564 52,894 73,685 91,861 91,224 R/C R/C

Negev Energy 56,746 N/A N/A N/A N/A N/A N/A N/A Below 

Threshold R/C

Qalaa Holdings (aka Citadel) 105,821 N/A N/A N/A 46,707 52,169 47,437 34,279 Below 

Threshold

Below 

Threshold

Central Asia University 38,581 N/A N/A N/A N/A N/A N/A N/A N/A Below 

Threshold

NOTE: “N/A” indicates that a project was not yet active in the OPIC Portfolio during that year, and “R/C” indicates that the project was either repayed (loan or guarantee) or cancelled

(insurance) prior to the cutoff date for that year. Totals may not sum due to rounding. 

[1] Maximum PTE was calculated on the basis of a project’s maximum operating capacity. When maximum operating capacity could not be properly determined, the maximum PTE was 

set equal to the highest annual emission level assessed in this or prior OPIC GHG inventories.
 Page 17 

Table 7. Summary of OPIC Historical Portfolio Emissions (Short Tons CO2e)

FY2008 FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018

Inventory Item CY2007 

Baseline

CY2008 

Emissions

CY2009 

Emissions

CY2010 

Emissions

CY2011 

Emissions

CY2012 

Emissions

CY2013 

Emissions

CY2014 

Emissions

CY2015 

Emissions

CY2016 

Emissions

CY2017 

Emissions

Tier A 40,227,263 24,887,602 25,670,965 26,367,582 25,037,339 2,453,314 2,742,677 2,900,090 3,063,735 3,709,035 2,753,980

Tier B 7,170,645 6,460,746 4,532,563 4,433,027 5,390,650 5,006,203 4,331,375 4,299,859 4,073,160 4,076,218 4,665,895

Tier C NQ [3] NQ [3] 105,482 132,910 93,648 136,486 151,325 202,766 186,358 29,093 28,312

Tier A, B, C Subtotal 47,397,908 31,348,348 30,309,010 30,933,519 30,521,637 7,596,003 7,225,377 7,402,715 7,323,253 7,814,346 7,448,187

Latin America Power III Fund [1] 0 0 0 0 0 0 0 0 0 0 0

5% Buffer for Additional Sources [2] 2,369,895 1,567,417 1,515,451 1,546,676 1,526,082 379,800 361,269 370,136 366,163 390,717 372,409

TOTAL: 49,767,803 32,915,765 31,824,461 32,480,195 32,047,719 7,970,993 7,586,646 7,772,851 7,689,416 8,205,063 7,820,596

NOTE: Totals may not sum due to rounding. 

[1] Per agreement between Latin American Power III and OPIC, the Fund agreed to “not make an investment in a Portfolio Company if, after such investment, the assets and 

operations of all Portfolio Companies then held by the Fund would emit (in the aggregate and on a calendar-year basis) in excess of 2,077,500 STPY CO2e as calculated in 

accordance with the IPCC”. In FY 2014, OPIC determined that the Fund would not invest in any power-generating projects; therefore, the allocation for the Latin American Power III 

Fund was not included in the FY 2014 inventory and subsequent inventories. To ensure the reported emissions are accurate, OPIC retroactively removed this allocation from the FY 

2008-2013 inventories.

[2] For the CY 2007 Baseline and CY 2008 inventories, the buffer was calculated as 5% of all carbon-intensive projects (i.e., those projects that emitted more than 100,000 STPY of 

CO2e). For the original CY 2010, CY 2011, CY 2012, and CY 2013 emissions, (i.e., after the threshold for a carbon-intensive project was reduced from 100,000 tpy to 25,000 tpy 

CO2e), the buffer was calculated so that the buffer plus the Tier C projects that emitted between 25,000 and 100,000 STPY of CO2e was equal to 5% of emissions from projects that 

emitted more than 100,000 STPY of CO2e. Starting with the CY 2014 inventory, the buffer for additional sources was calculated as 5% of all carbon-intensive projects under the new 

threshold of 25,000 STPY CO2e (i.e., Tier A, B and C emissions combined). OPIC applied this calculation retroactively to the buffer for CY 2009 – CY 2013, which resulted in an 

increase in the buffer, and a subsequent increase in reported emissions of between 0.3% and 2.3%.

[3] Not quantified during that year.
Page 18 

APPENDIX A – LIST OF ACTIVE PROJECTS

This table lists projects active as of September 30, 2018 that were screened as part of 

the CY 2017 GHG inventory development process.

PROJECT NAME COUNTRY SECTOR

A B I GROUP LTD AFGHANISTAN Manufacturing

AAF SUB-FUND AFRICA REGIONAL Finance and Insurance

Abraaj Growth Markets Health Fund AFRICA REGIONAL Finance and Insurance

ACCESS AFRICA FUND AFRICA REGIONAL Finance and Insurance

ACCESSION MEZZANINE CAPITAL III, L.P. EUROPE REGIONAL Finance and Insurance

ACD Research Inc. RUSSIA Manufacturing

Ace American Insurance Company GHANA Educational Services

Ace American Insurance Company GHANA Utilities

Ace American Insurance Company SENEGAL Utilities

Ace American Insurance Company TOGO Utilities

Acleda Bank CAMBODIA Finance and Insurance

Acord Capital COLOMBIA Real Estate and Rental and Leasing

Acrecent Mexico,S.A.P.I. de C.V. MEXICO Real Estate and Rental and Leasing

Acu Petroleo S.A. BRAZIL Transportation and Warehousing

Adriatic Investors LLC Croatia Information

Adwa? Ma?an Al Oula Lil Tak PSC JORDAN Utilities

AES Corporation JORDAN Utilities

AES JORDAN PSC JORDAN Utilities

AES LEVANT PSC JORDAN Utilities

AFGHAN GROWTH FINANCE LLC AFGHANISTAN Finance and Insurance

AFGHAN GROWTH FINANCE LLC AFGHANISTAN Finance and Insurance

Africa Eye Foundation CAMEROON Health Care and Social Assistance

Africa Finance Corporation AFRICA REGIONAL Finance and Insurance

AFRICA TELECOM, MEDIA & TECHNOLOGY FUND LLC AFRICA REGIONAL Finance and Insurance

African Banking Corporation of Botswana Limited BOTSWANA Finance and Insurance

African Banking Corporation of Zambia Limited ZAMBIA Finance and Insurance

African Leadership Academy SOUTH AFRICA Educational Services

Aga Khan Hospital and Medical College Founda PAKISTAN Health Care and Social Assistance

AKBANK T.A.S. TURKEY Finance and Insurance

Al Tamweel Al Saree LLC IRAQ Finance and Insurance

Alistair James Company Ltd TANZANIA Transportation and Warehousing

Alsis Mexico Opportunities Fund MEXICO Finance and Insurance

Alto Maipo SpA CHILE Utilities

AM Solar B.V./Jordan JORDAN Utilities

Amandi Energy Limited GHANA Utilities

AMANECER SPA CHILE Utilities

AMERICAN EMBASSY SCHOOL OF LUSAKA 

FOUNDATION INC ZAMBIA Educational Services

AMERICAN INTERNATIONAL SCHOOL OF ABUJA 

FOUNDATION INC NIGERIA Educational Services

AMERICAN INTERNATIONAL SCHOOL OF MONROVIA IN LIBERIA Educational Services

AMERICAN INTERNATIONAL SCHOOL SYSTEMS, INC. PAKISTAN Educational Services

AMERICAN INTL SCHOOL OF BAMAKO MALI Educational Services

American Intl. School of Bamako MALI Educational Services

American Intl. School-Kingston JAMAICA Educational Services

AMERICAN UNIVERSITY IN BULGARIA BULGARIA Educational Services
Page 19 

PROJECT NAME COUNTRY SECTOR

AMERICAN UNIVERSITY OF BEIRUT LEBANON Educational Services

American Wool III AFGHANISTAN Agriculture, Forestry, Fishing and Hunting

AMETHIS AFRICA FINANCE LIMITED AFRICA REGIONAL Finance and Insurance

AMSTED RAIL COMPANY INC UKRAINE Transportation and Warehousing

APACHE CORPORATION EGYPT Mining, Quarrying, and Oil and Gas 

Extraction

APACHE CORPORATION EGYPT Mining, Quarrying, and Oil and Gas 

Extraction

Apollo Towers BURMA/MYANMAR Construction

ARGENTINA OLIVE RANCH ARGENTINA Agriculture, Forestry, Fishing and Hunting

ARMENIA HOTEL COMPLEX - 2 ARMENIA Accommodation and Food Services

ASA International ALL OPIC COUNTRIES Finance and Insurance

ASIA DEVELOPMENT PARTNERS III, LP INDIA Finance and Insurance

ASIA FOUNDATION AFGHANISTAN Health Care and Social Assistance

ASIA FOUNDATION Bangladesh Health Care and Social Assistance

ASIA FOUNDATION CAMBODIA Health Care and Social Assistance

ASIA FOUNDATION INDONESIA Health Care and Social Assistance

ASIA FOUNDATION MONGOLIA Health Care and Social Assistance

ASIA FOUNDATION Nepal Health Care and Social Assistance

ASIA FOUNDATION PAKISTAN Health Care and Social Assistance

ASIA FOUNDATION PHILIPPINES Health Care and Social Assistance

ASIA FOUNDATION South Korea Health Care and Social Assistance

ASIA FOUNDATION SRI LANKA Health Care and Social Assistance

ASIA FOUNDATION Thailand Health Care and Social Assistance

ASSURANT INC BRAZIL Finance and Insurance

AST Telecom Solar Private Limited INDIA Utilities

AUSTRALIS AQUACULTURE LLC VIETNAM Agriculture, Forestry, Fishing and Hunting

Avantel S.A.S. COLOMBIA Information

Azura-Edo Power Project- Junior Loan NIGERIA Utilities

Azura-Edo Power Project- Senior Loan NIGERIA Utilities

AZURE POWER (GUJARAT) PVT LTD - SUNEDISON INDIA Utilities

Azure Sunlight Private Limited INDIA Utilities

B M R ENERGY LLC JAMAICA Utilities

BAC INTERNATIONAL BANK,INC. (TRANCHE A) PANAMA Finance and Insurance

BANCO BAC SAN JOSE, S.A. (TRANCHE A) COSTA RICA Finance and Insurance

Banco Davivienda S.A. COLOMBIA Finance and Insurance

BANCO DE AMERICA CENTRAL HONDURAS, S.A.(TR A HONDURAS Finance and Insurance

BANCO DE AMERICA CENTRAL, S.A. (TRANCHE A) NICARAGUA Finance and Insurance

BANCO DE CREDITO CENTROAMERICANO, S.A. NICARAGUA Finance and Insurance

BANCO DE CREDITO CENTROAMERICANO, S.A. NICARAGUA Finance and Insurance

BANCO LAFISE HONDURAS, S.A. HONDURAS Finance and Insurance

BANCO LAFISE HONDURAS, S.A. HONDURAS Finance and Insurance

BANCO LAFISE, S.A. (TRANCHE 2) COSTA RICA Finance and Insurance

BANCO LAFISE, S.A. (TRANCHE 3) COSTA RICA Finance and Insurance

Bangweulu Power Company Limited ZAMBIA Utilities

Bayport Management Ltd ALL OPIC COUNTRIES Finance and Insurance

BELSTAR CAPITAL LIMITED GHANA Utilities

BELSTAR CAPITAL LIMITED GHANA Manufacturing

BELSTAR CAPITAL LIMITED GHANA Wholesale Trade

BETSY, LLC GEORGIA Accommodation and Food Services

Beyond the Grid Solar Fund (SunFunder) ALL OPIC COUNTRIES Finance and Insurance

BFB -- Blue Star Diamonds Ltd BOTSWANA Manufacturing

BFB -- Eurostar Botswana Ltd. BOTSWANA Manufacturing

BFB -- KGK Diamonds Ltd. BOTSWANA Manufacturing
Page 20 

PROJECT NAME COUNTRY SECTOR

BFB - M Suresh Botswana (Pty) Ltd BOTSWANA Manufacturing

BFB -- Trau Bros (Pty) Ltd. BOTSWANA Manufacturing

Bien Para Bien S.A., S.A.P.I. de C.V. SOFOM ENR MEXICO Finance and Insurance

Big Tree Farms Inc. INDONESIA Manufacturing

Blue Mountain Renewables Wind Power Project JAMAICA Utilities

Bosforo, Ltda. de C.V. EL SALVADOR Utilities

BRAVO ENERGY MEXICO SRL DE CV MEXICO Utilities

Bridge International Academy KENYA Educational Services

Broad Cove Housing Investment Partners LIBERIA Construction

BURN MANUFACTURING COMPANY AFRICA REGIONAL Manufacturing

Butama Hydro Electricity Company UGANDA Utilities

CAIRO AMMAN BANK JORDAN Finance and Insurance

Calvert Foundation-Jain Sons Finlease ("Intellegro INDIA Finance and Insurance

Calvert Foundation-Thirumeni Finance ("Varthana") INDIA Finance and Insurance

Capital Alliance Property Investment Company, L.P. NIGERIA Finance and Insurance

Caspian Impact Investments INDIA Finance and Insurance

Central Storage Safety Project Trust UKRAINE Utilities

CGLOB - CrediQ LATIN AMERICA REGION Finance and Insurance

CGLOB2 - Banco Atlas PARAGUAY Finance and Insurance

CGLOB-ATTIJARIWAFA BANK ("ATW") MOROCCO Finance and Insurance

CGLOB-BANCO DEL PAIS, S.A. HONDURAS Finance and Insurance

CGLOB-CAL Bank GHANA Finance and Insurance

CGLOB-Grupo Jaremar HONDURAS Manufacturing

CGLOB-TSKB TURKEY Finance and Insurance

CHEMONICS INTERNATIONAL INC AFGHANISTAN Professional, Scientific, and Technical 

Services

CHEMONICS INTERNATIONAL INC ARMENIA Professional, Scientific, and Technical 

Services

CHEMONICS INTERNATIONAL INC AZERBAIJAN Professional, Scientific, and Technical 

Services

CHEMONICS INTERNATIONAL INC Bolivia Professional, Scientific, and Technical 

Services

CHEMONICS INTERNATIONAL INC BOTSWANA Professional, Scientific, and Technical 

Services

CHEMONICS INTERNATIONAL INC DEM. REPUBLIC OF CONGO Professional, Scientific, and Technical 

Services

CHEMONICS INTERNATIONAL INC Ethiopia Professional, Scientific, and Technical 

Services

CHEMONICS INTERNATIONAL INC GEORGIA Professional, Scientific, and Technical 

Services

CHEMONICS INTERNATIONAL INC GHANA Professional, Scientific, and Technical 

Services

CHEMONICS INTERNATIONAL INC HAITI Professional, Scientific, and Technical 

Services

CHEMONICS INTERNATIONAL INC INDONESIA Professional, Scientific, and Technical 

Services

CHEMONICS INTERNATIONAL INC JORDAN Professional, Scientific, and Technical 

Services

CHEMONICS INTERNATIONAL INC KAZAKHSTAN Professional, Scientific, and Technical 

Services

CHEMONICS INTERNATIONAL INC KENYA Professional, Scientific, and Technical 

Services

CHEMONICS INTERNATIONAL INC Kosovo Professional, Scientific, and Technical 

Services

CHEMONICS INTERNATIONAL INC LEBANON Professional, Scientific, and Technical 

Services
Page 21 

PROJECT NAME COUNTRY SECTOR

CHEMONICS INTERNATIONAL INC MALAWI Professional, Scientific, and Technical 

Services

CHEMONICS INTERNATIONAL INC MOLDOVA Professional, Scientific, and Technical 

Services

CHEMONICS INTERNATIONAL INC Mozambique Professional, Scientific, and Technical 

Services

CHEMONICS INTERNATIONAL INC NICARAGUA Professional, Scientific, and Technical 

Services

CHEMONICS INTERNATIONAL INC Niger Professional, Scientific, and Technical 

Services

CHEMONICS INTERNATIONAL INC NIGERIA Professional, Scientific, and Technical 

Services

CHEMONICS INTERNATIONAL INC PAKISTAN Professional, Scientific, and Technical 

Services

CHEMONICS INTERNATIONAL INC PERU Professional, Scientific, and Technical 

Services

CHEMONICS INTERNATIONAL INC PHILIPPINES Professional, Scientific, and Technical 

Services

CHEMONICS INTERNATIONAL INC RWANDA Professional, Scientific, and Technical 

Services

CHEMONICS INTERNATIONAL INC SOUTH AFRICA Professional, Scientific, and Technical 

Services

CHEMONICS INTERNATIONAL INC TAJIKISTAN Professional, Scientific, and Technical 

Services

CHEMONICS INTERNATIONAL INC TANZANIA Professional, Scientific, and Technical 

Services

CHEMONICS INTERNATIONAL INC UKRAINE Professional, Scientific, and Technical 

Services

CHEMONICS INTERNATIONAL INC VIETNAM Professional, Scientific, and Technical 

Services

CHEMONICS INTERNATIONAL INC West Bank and Gaza Professional, Scientific, and Technical 

Services

CHEMONICS INTERNATIONAL INC ZAMBIA Professional, Scientific, and Technical 

Services

CHF LEBANON REPLACEMENT FACILITY LEBANON Finance and Insurance

CHF Lebanon Replacement Facility 2 LEBANON Finance and Insurance

CHOUS2-BANCO ALIADO, S.A. PANAMA Finance and Insurance

CHOUS2-BANCO CONTINENTAL S.A.E.C.A. PARAGUAY Finance and Insurance

CHOUS2-BANCO FICOHSA HONDURAS Finance and Insurance

CHOUS2-BANCO REGIONAL S.A.E.C.A. PARAGUAY Finance and Insurance

CHOUS2-GLOBAL BANK CORPORATION PANAMA Finance and Insurance

CHOUS-BANCO DE LA PRODUCCION S.A. NICARAGUA Finance and Insurance

CHOUS-BANCO FINANCIERA COMMERCIAL 

HONDURENA HONDURAS Finance and Insurance

CHOUS-BANCO PROMERICA COSTA RICA Finance and Insurance

CHOUS-BANCO REFORMADOR, S.A. GUATEMALA Finance and Insurance

CHOUS-BANRURAL S.A. GUATEMALA Finance and Insurance

CHOUS-CREDIQ, SA DE CV & CREDITZ INVERSIONES COSTA RICA Finance and Insurance

CHOUS-JOINT STOCK COMPANY TBC BANK GEORGIA Finance and Insurance

Cinepax Corp. PAKISTAN Information

CITADEL CAPITAL LOAN FACILITY EGYPT Finance and Insurance

CITIBANK, N. A. EGYPT Finance and Insurance

CITIBANK, N. A. Hungary Finance and Insurance

CITIBANK, N. A. PAKISTAN Finance and Insurance

CITIBANK, N. A. ROMANIA Finance and Insurance

CITIBANK, N. A. UKRAINE Finance and Insurance

CLEARWATER CAPITAL PARTNERS IV, L.P. ASIA REGIONAL Finance and Insurance
Page 22 

PROJECT NAME COUNTRY SECTOR

CLEB2A-BANK AUDI SAL-AUDI SARADAR GROUP LEBANON Finance and Insurance

CLEB2A-BANKMED S.A.L. LEBANON Finance and Insurance

CLEB2A-BYBLOS BANK SAL LEBANON Finance and Insurance

CLEB2-BANK AUDI SAL-AUDI SARADAR GROUP LEBANON Finance and Insurance

CLEB-BANKMED S.A.L. LEBANON Finance and Insurance

CLEB-BANQUE LIBANO-FRANCAISE S.A.L. LEBANON Finance and Insurance

CLEB-BYBLOS BANK S.A.L. LEBANON Finance and Insurance

CMFI-2-Accion Microfinance Bank Nigeria NIGERIA Finance and Insurance

CMFI-2-Greenland Fedha KENYA Finance and Insurance

CMFI-2-Jordan Micro Credit Company (Tamweelcom) JORDAN Finance and Insurance

CMFI-2-LOLC Micro Credit SRI LANKA Finance and Insurance

CMFI-2-Microcred Senegal SENEGAL Finance and Insurance

CMFI-2-Microcred Senegal SENEGAL Finance and Insurance

Compagnie des Bauxites de Guinee GUINEA Mining, Quarrying, and Oil and Gas 

Extraction

Content Solar Limited JAMAICA Utilities

CONTINENTAL GRAIN CO HAITI Manufacturing

ContourGlobal Cap des Biches SENEGAL Utilities

ContourGlobal Cap des Biches Senegal SENEGAL Utilities

CONTOURGLOBAL SOLUTIONS HOLDINGS LIMITED NIGERIA Utilities

CONTOURGLOBAL SOLUTIONS HOLDINGS LIMITED NIGERIA Utilities

CONTOURGLOBAL TOGO S.A. TOGO Utilities

CORPORACION QUIPORT S.A. ECUADOR Transportation and Warehousing

CRECERA (LATIN AMERICA EXPORT FINANCE FUND) LATIN AMERICA REGION Finance and Insurance

CSI LATINA FINANCIAL, INC/CSI LATINA ARRENDA BRAZIL Real Estate and Rental and Leasing

CSI Peru PERU Real Estate and Rental and Leasing

DARBY-PROBANCO HOLDINGS, L.P. LATIN AMERICA REGION Finance and Insurance

DATASPACE PARTNERS, LLC RUSSIA Information

DCO S.A. ALL OPIC COUNTRIES Finance and Insurance

Destino Desarrollos Inmobiliarios, Compania Limita GUATEMALA Construction

Dev Equity, LP LATIN AMERICA REGION Finance and Insurance

DEVELOPMENT ALTERNATIVES INC. (DAI) AFGHANISTAN Professional, Scientific, and Technical 

Services

DEVELOPMENT ALTERNATIVES INC. (DAI) MOLDOVA Professional, Scientific, and Technical 

Services

DIG-SOFIHDES HAITI Finance and Insurance

DISI WATER PSC JORDAN Utilities

Dragon Capital New Ukraine Fund, LP UKRAINE Finance and Insurance

Early Dawn Microfinance Company Ltd. BURMA/MYANMAR Finance and Insurance

ECP AFRICA FIII INVESTMENTS LLC AFRICA REGIONAL Finance and Insurance

ECP Africa Fund II Investments LLC AFRICA REGIONAL Finance and Insurance

EGYPT-AL WATANY BANK EGYPT Finance and Insurance

EGYPT-COMMERCIAL INTERNATIONAL BANK EGYPT Finance and Insurance

Endeavor Guinea Power Holdings LLC GUINEA Utilities

Envirofit ALL OPIC COUNTRIES Manufacturing

ERU Management Services LLC UKRAINE Transportation and Warehousing

ESP Urja Private Limited INDIA Utilities

EURASIA FOUNDATION ARMENIA Other Services (except Public 

Administration)

EURASIA FOUNDATION GEORGIA Other Services (except Public 

Administration)

EURASIA FOUNDATION UKRAINE Other Services (except Public 

Administration)

FAIRTRADE ACCESS FUND S.A., SICAV-SIF ALL OPIC COUNTRIES Finance and Insurance

FINANCIERA TFC, S.A. PERU Finance and Insurance
Page 23 

PROJECT NAME COUNTRY SECTOR

FINCA INTERNATIONAL ALL OPIC COUNTRIES Finance and Insurance

Firefly Investments 230 (Pty) Ltd. SOUTH AFRICA Utilities

First City Monument Bank NIGERIA Finance and Insurance

First Mortgage Company ARMENIA Finance and Insurance

First Mortgage Company II ARMENIA Finance and Insurance

FIXED RATE FUNDING & LIQUIDITY LTD (HWD SPA) ALGERIA Utilities

FORESTRY & AGRICULTURAL INVESTMENT MGMT USA RWANDA Agriculture, Forestry, Fishing and Hunting

Foursan Jordan Fund 2 JORDAN Finance and Insurance

GARANTI DIVERSIFIED PAYMENT RIGHTS COMPANY TURKEY Finance and Insurance

Gazelle Fund L.P. EUROPE REGIONAL Finance and Insurance

GCMC II- JUNIOR NOTE TRANCHE ALL OPIC COUNTRIES Finance and Insurance

Generacion Solar SpA CHILE Utilities

GEORGIAN AMERICAN UNIVERSITY LLC GEORGIA Educational Services

GHANA HOME LOANS (FUND 1) LIMITED GHANA Finance and Insurance

GHANA HOME LOANS (FUND 1) LIMITED GHANA Finance and Insurance

GHL-USA Investment Partners LLC GHANA Finance and Insurance

GIFF-INCL-Isik Tarim D/B/A Isik Organik TURKEY Manufacturing

GIFF-MFI-Arohan Micro Finance Pvt. LTD INDIA Finance and Insurance

GIFF-MFI-Suryoday Micro Finance LTD INDIA Finance and Insurance

GLOBAL COMMERCIAL MICROFINANCE CONSORTIUM II ALL OPIC COUNTRIES Finance and Insurance

Global Partnerships Social Investment Fund 6.0 LATIN AMERICA REGION Finance and Insurance

GLOBAL PARTNERSHIPS SOCIAL INVMT FUND 5.0 LATIN AMERICA REGION Finance and Insurance

GMT HOTELS, LLC GEORGIA Accommodation and Food Services

GMT HOTELS, LLC GEORGIA Accommodation and Food Services

GMT MTATSMINDA, LLC GEORGIA Accommodation and Food Services

Google Inc. KENYA Utilities

Grameen Impact Investments India INDIA Finance and Insurance

GRASSROOTS BUSINESS FUND ALL OPIC COUNTRIES Finance and Insurance

Greenlight Planet, Inc. ALL OPIC COUNTRIES Utilities

GTS MAJES S.A.C. AND GTS REPARTICION S.A.C. PERU Utilities

GTS MAJES S.A.C. AND GTS REPARTICION S.A.C. PERU Utilities

HAITI 360 HAITI Manufacturing

Hawa Energy PAKISTAN Utilities

HEALTHPOINT SERVICES INDIA PRIVATE LIMITED INDIA Utilities

HEFF LATIN AMERICA REGION Finance and Insurance

Husk Power Services INDIA Utilities

IHS FUND II SA PVE SOUTH AFRICA Finance and Insurance

India 2020 II Investors, Limited INDIA Finance and Insurance

IndusInd Bank Limited INDIA Finance and Insurance

INDUSTRIAL DPR FUNDING LTD. GUATEMALA Finance and Insurance

Inter-Mac International, Inc. HONDURAS Construction

International Bank Liberia Limited LIBERIA Finance and Insurance

INTERNATIONAL COLLEGE LEBANON Educational Services

INTERNATIONAL RESCUE COMMITTEE AFGHANISTAN Health Care and Social Assistance

INTERNATIONAL RESCUE COMMITTEE BURUNDI Health Care and Social Assistance

INTERNATIONAL RESCUE COMMITTEE Central African Republic Health Care and Social Assistance

INTERNATIONAL RESCUE COMMITTEE Chad Health Care and Social Assistance

INTERNATIONAL RESCUE COMMITTEE Cote d'Ivoire Health Care and Social Assistance

INTERNATIONAL RESCUE COMMITTEE DEM. REPUBLIC OF CONGO Health Care and Social Assistance

INTERNATIONAL RESCUE COMMITTEE Ethiopia Health Care and Social Assistance

INTERNATIONAL RESCUE COMMITTEE IRAQ Health Care and Social Assistance

INTERNATIONAL RESCUE COMMITTEE JORDAN Health Care and Social Assistance

INTERNATIONAL RESCUE COMMITTEE KENYA Health Care and Social Assistance
Page 24 

PROJECT NAME COUNTRY SECTOR

INTERNATIONAL RESCUE COMMITTEE LEBANON Health Care and Social Assistance

INTERNATIONAL RESCUE COMMITTEE LIBERIA Health Care and Social Assistance

INTERNATIONAL RESCUE COMMITTEE Myanmar Health Care and Social Assistance

INTERNATIONAL RESCUE COMMITTEE NIGERIA Health Care and Social Assistance

INTERNATIONAL RESCUE COMMITTEE PAKISTAN Health Care and Social Assistance

INTERNATIONAL RESCUE COMMITTEE Sierra Leone Health Care and Social Assistance

INTERNATIONAL RESCUE COMMITTEE Somalia Health Care and Social Assistance

INTERNATIONAL RESCUE COMMITTEE South Sudan Health Care and Social Assistance

INTERNATIONAL RESCUE COMMITTEE TANZANIA Health Care and Social Assistance

INTERNATIONAL RESCUE COMMITTEE Thailand Health Care and Social Assistance

INTERNATIONAL RESCUE COMMITTEE UGANDA Health Care and Social Assistance

INTERNATIONAL RESCUE COMMITTEE Yemen Health Care and Social Assistance

International School of Kenya Limited KENYA Educational Services

International School of Ulaanbaatar MONGOLIA Educational Services

INTL CO FOR ENERGY TECHNOLOGY INDUSTRIES JORDAN Construction

IRAQ MIDDLE MARKET DEVELOPMENT FOUNDATION IRAQ Finance and Insurance

IRAQ MIDDLE MARKET DEVELOPMENT FOUNDATION IRAQ Finance and Insurance

ISRAEL ELECTRIC CORPORATION LTD. ISRAEL Transportation and Warehousing

Itau 2014 BRAZIL Finance and Insurance

Izmir Bayrakli Hastane Yatirim ve Saglik Hizmetler TURKEY Health Care and Social Assistance

Jamaica Public Service Company Limited JAMAICA Utilities

Jana Small Finance Bank Limited INDIA Finance and Insurance

Jhimpir Power (Private) Limited PAKISTAN Utilities

JORDAN-ARAB BANK JORDAN Finance and Insurance

JORDAN-BANK AL ETIHAD JORDAN Finance and Insurance

JORDAN-BANK AL ETIHAD JORDAN Finance and Insurance

JORDAN-CAIRO AMMAN BANK JORDAN Finance and Insurance

JORDAN-Capital Bank 2 JORDAN Finance and Insurance

JORDAN-CAPITAL BANK OF JORDAN JORDAN Finance and Insurance

JORDAN-HOUSING BANK FOR TRADE AND FINANCE JORDAN Finance and Insurance

JORDAN-JORDAN AHLI BANK JORDAN Finance and Insurance

JORDAN-JORDAN KUWAIT BANK JORDAN Finance and Insurance

JSC BANK OF GEORGIA GEORGIA Finance and Insurance

JSC D&B Georgia GEORGIA Accommodation and Food Services

JSC PROCREDIT BANK GEORGIA GEORGIA Finance and Insurance

JSC PROCREDIT BANK GEORGIA GEORGIA Finance and Insurance

JSC WENGEORGIA GEORGIA Accommodation and Food Services

KABUL GRAND RESIDENCES LLC AFGHANISTAN Construction

Kilombero Plantations Limited TANZANIA Agriculture, Forestry, Fishing and Hunting

Kiva ALL OPIC COUNTRIES Finance and Insurance

Kocaeli Hastane Yatirim ve Saglik Hizmetleri A.S. TURKEY Health Care and Social Assistance

KORET ISRAEL ECONOMIC DEVELOPMENT FUNDS ISRAEL Finance and Insurance

KWAPLAH INTERNATIONAL TRADING CO INC LIBERIA Wholesale Trade

LA FUTURA, S.A. GUATEMALA Agriculture, Forestry, Fishing and Hunting

La Hipotecaria El Salvador EL SALVADOR Finance and Insurance

La Hipotecaria El Salvadorian Mortgage Trust 2016- EL SALVADOR Finance and Insurance

LA HIPOTECARIA PANAMANIAN MORTGAGE TRUST 10 PANAMA Finance and Insurance

La Hipotecaria Panamanian Mortgage Trust 201 PANAMA Finance and Insurance

LAAD Americas NV COLOMBIA Finance and Insurance

LAFISE GROUP PANAMA, INC. PANAMA Finance and Insurance

LCF SPV ALL OPIC COUNTRIES Finance and Insurance

Levered Alsis Mexico Housing Opportunities, L.P. MEXICO Finance and Insurance

LIBERIAN ENTERPRISE DEVELOPMENT FINANCE CO. LIBERIA Finance and Insurance
Page 25 

PROJECT NAME COUNTRY SECTOR

Livelihood Impact Fund, L.P. ASIA REGIONAL Finance and Insurance

LLC "WINNER IMPORTS UKRAINE, LTD" UKRAINE Retail Trade

LOLC (Cambodia) Plc. CAMBODIA Finance and Insurance

Los Santos Solar I, S.A.P.I. de C.V. MEXICO Utilities

Master Wind Energy Limited PAKISTAN Utilities

Materiales Vista Bahia PANAMA Construction

Mawingu Networks KENYA Information

MCE Social Capital Loan ALL OPIC COUNTRIES Finance and Insurance

MEII 3 - Bank of Jordan WEST BANK Finance and Insurance

MEII 3 - Bank of Palestine WEST BANK Finance and Insurance

MEII 3 - Cairo Amman Bank WEST BANK Finance and Insurance

MEII 3 - FATEN WEST BANK Finance and Insurance

MEII 3 - Jordan Ahli Bank WEST BANK Finance and Insurance

MEII 3 - National Bank WEST BANK Finance and Insurance

MEII 3 - Quds Bank WEST BANK Finance and Insurance

MEII-2-ARAB BANK WEST BANK Finance and Insurance

MEII-2-PALESTINE COMMERCIAL BANK WEST BANK Finance and Insurance

MEII-2-QUDS BANK (SME) WEST BANK Finance and Insurance

MEII-HOUSING BANK FOR TRADE AND FINANCE WEST BANK Finance and Insurance

MEMC ELECTRONICS MATERIALS, INC. INDIA Utilities

MEMC ELECTRONICS MATERIALS, INC. INDIA Utilities

Meridiam Africa Investments SENEGAL Utilities

MFX Solutions II ALL OPIC COUNTRIES Finance and Insurance

MFX Solutions III ALL OPIC COUNTRIES Finance and Insurance

MFX SOLUTIONS, INC. ALL OPIC COUNTRIES Finance and Insurance

MicroBuild Fund ALL OPIC COUNTRIES Finance and Insurance

MICROBUILD I, LLC ALL OPIC COUNTRIES Finance and Insurance

MICROCREDIT ENTERPRISES ALL OPIC COUNTRIES Finance and Insurance

MicroVest+Plus, LP ALL OPIC COUNTRIES Finance and Insurance

Miranda Falcon Realty Ltd WEST BANK Construction

Mobius Motors Kenya Limited KENYA Manufacturing

Moquegua FV S.A.C. PERU Utilities

MORGAN STANLEY INCORPORATED RUSSIA Finance and Insurance

MORGANTI DEVELOPMENT L L C GAZA Utilities

Mountain Enterprises International, Inc TAJIKISTAN Manufacturing

MTANGA FARMS LIMITED TANZANIA Manufacturing

Multilateral Investment Guarantee Agency (MIGA) NIGERIA Utilities

NATIONAL UNION FIRE INSURANCE CO OF 

PITTSBURGH PA ECUADOR Transportation and Warehousing

Negev Energy - Ashalim Thermo-Solar Ltd. ISRAEL Utilities

New York Pizza Co Ltd. RUSSIA Accommodation and Food Services

NOBLE ENERGY INC ISRAEL Mining, Quarrying, and Oil and Gas 

Extraction

Noble Energy Mediterranian Ltd JORDAN Mining, Quarrying, and Oil and Gas 

Extraction

NU STRATA LOGISTICS LIBERIA Transportation and Warehousing

O and S CONSULTING I Uzbekistan Accommodation and Food Services

Olympus Capital Asia Catalyst Fund, L.P. ASIA REGIONAL Finance and Insurance

One Acre Fund AFRICA REGIONAL Finance and Insurance

Orb Energy INDIA Utilities

Orpower 4 Geothermal KENYA Utilities

PACIFIC COLLECTION COMPANY/TRIBAL LOOM AFGHANISTAN Manufacturing

PALADIN REALTY LATIN AMERICA INVESTORS III LATIN AMERICA REGION Finance and Insurance

Paladin Realty Latin America Investors IV-CI, LP LATIN AMERICA REGION Finance and Insurance
Page 26 

PROJECT NAME COUNTRY SECTOR

PAMIGA Finance S.A. AFRICA REGIONAL Finance and Insurance

Parc Eolien Taiba NDiaye S.A. (Direct Loan) SENEGAL Utilities

Parc Eolien Taiba NDiaye S.A. (Swap IG) SENEGAL Utilities

Parque Solar Fotovoltaico CHILE Utilities

Peninsula III Levered - O LP LATIN AMERICA REGION Finance and Insurance

PROMOTORA DE INFRAESTRUCTURA REGISTRAL, S.A. MEXICO Finance and Insurance

PT UPC Sidrap Bayu Energi INDONESIA Utilities

PT. TUCAN PUMPCO SERVICES INDONESIA INDONESIA Mining, Quarrying, and Oil and Gas 

Extraction

PT. TUCAN PUMPCO SERVICES INDONESIA INDONESIA Mining, Quarrying, and Oil and Gas 

Extraction

PTSM HOLDINGS LIMITED/PTS EQUIPMENT LIMITED NIGERIA Real Estate and Rental and Leasing

PV Salvador CHILE Utilities

QuantumID Technologies (Philippines) PHILIPPINES Professional, Scientific, and Technical 

Services

RBL Bank-NeoGrowth INDIA Finance and Insurance

ReNew Wind Energy (TN 2) Private Limited - Karnataka INDIA Utilities

ReNew Wind Energy(TN 2) Private Limited - Telangan INDIA Utilities

RLJ LIBERIA, LLC LIBERIA Accommodation and Food Services

ROOT CAPITAL II ALL OPIC COUNTRIES Finance and Insurance

Root Capital, Inc. ALL OPIC COUNTRIES Finance and Insurance

RUSSIA PARTNERS II "O" SERIES, L.P. NIS REGIONAL Finance and Insurance

SA Taxi Impact Fund RF (Pty) Ltd. SOUTH AFRICA Real Estate and Rental and Leasing

SAN ANDRES SPA CHILE Utilities

Sapphire Wind Power PAKISTAN Utilities

SARONA FRONTIER MARKETS FUND II LP ALL OPIC COUNTRIES Finance and Insurance

Sayali Ltd GEORGIA Health Care and Social Assistance

Schulze Global Finance Facility Mongolia MONGOLIA Finance and Insurance

SEABOARD OVERSEAS LTD DEM. REPUBLIC OF CONGO Manufacturing

SEAF-FBT AD (JIMMY'S) BULGARIA Accommodation and Food Services

SEKER MORTGAGE FINANSMAN A.S. TURKEY Finance and Insurance

SFC Finance Limited AFRICA REGIONAL Finance and Insurance

SigmaBleyzer Southeast European Fund IV, CV UKRAINE Finance and Insurance

SILVERLANDS FUND AFRICA REGIONAL Finance and Insurance

Silverstreet Private Equity Strategies Soparfi Sarl AFRICA REGIONAL Finance and Insurance

Silverstreet Private Equity Strategies Soparfi Sarl TANZANIA Agriculture, Forestry, Fishing and Hunting

Silverstreet Private Equity Strategies Soparfi Sarl ZAMBIA Agriculture, Forestry, Fishing and Hunting

Silverstreet Private Equity Strategies Soparfi Sarl ZAMBIA Agriculture, Forestry, Fishing and Hunting

SIMPA Networks INDIA Wholesale Trade

SIRAJ PALESTINE FUND I WEST BANK Finance and Insurance

SOCIEDAD CONCESIONARIA VESPUCIO NORTE 

EXPRES CHILE Construction

Solar Azuero Venture, S.R.L. PANAMA Utilities

Solar Cocle Venture, S.R.L. PANAMA Utilities

Solar Panama Venture, S.R.L. PANAMA Utilities

South Asia Clean Energy Fund ASIA REGIONAL Finance and Insurance

SOUTHEAST EUROPE EQUITY FUND II, L.P. EUROPE REGIONAL Finance and Insurance

SOUTHERN ENERGY PARTNERS LLC INDIA Utilities

SOUTHERN ENERGY PARTNERS LLC INDIA Utilities

SOUTHERN ENERGY PARTNERS LLC INDIA Utilities

Sovereign Risk Insurance Limited SENEGAL Utilities

St. Marche BRAZIL Retail Trade

STEADFAST INSURANCE CO Benin Transportation and Warehousing

STEADFAST INSURANCE CO GHANA Transportation and Warehousing
Page 27 

PROJECT NAME COUNTRY SECTOR

STEADFAST INSURANCE CO TOGO Utilities

Stichting Medical Credit Fund AFRICA REGIONAL Finance and Insurance

SUMMIT HOTELS LIMITED/SUMMIT GLOBAL GROUP IRAQ Accommodation and Food Services

SUN EDISON INC SOUTH AFRICA Utilities

TACNA SOLAR S.A.C. AND PANAMERICANA SOLAR PERU Utilities

Tavan Bogd Foods LLC MONGOLIA Accommodation and Food Services

TAYL INVESTORS GROUP LIMITED AFGHANISTAN Accommodation and Food Services

TAYL INVESTORS GROUP-2 AFGHANISTAN Accommodation and Food Services

TBC KREDIT NON-BANKING CREDIT ORGANIZATI LLC AZERBAIJAN Finance and Insurance

Te Power Company SASU GUINEA Utilities

TEA IMPORTERS INC RWANDA Agriculture, Forestry, Fishing and Hunting

Tenaga Wind Power Project PAKISTAN Utilities

Texas Adriatic Group LLC Hungary Utilities

THANEAKEA PHUM CAMBODIA CAMBODIA Finance and Insurance

Thaneakea Phum Cambodia (2nd Tranche) CAMBODIA Finance and Insurance

THE ATLANTIC IRAQ Construction

The Standard Bank of South Africa Limited SOUTH AFRICA Finance and Insurance

THREE E KUMASI INVESTMENT CO L L C GHANA Educational Services

TIB Diversified Payment Rights Finance Compa TURKEY Finance and Insurance

TPL TRAKKER PAKISTAN Professional, Scientific, and Technical 

Services

TRANSNATIONAL RESOURCE L L C UKRAINE Construction

Treetops Capital Agribusiness Facility LLC ROMANIA Finance and Insurance

Tres Mesas MEXICO Utilities

Tres Mesas - 2 MEXICO Utilities

Tugende Limited UGANDA Real Estate and Rental and Leasing

TUNISIA-Amen Bank TUNISIA Finance and Insurance

TUNISIA-Arab Tunisia Bank TUNISIA Finance and Insurance

TUNISIA-Attijari Bank TUNISIA Finance and Insurance

TURKIYE GARANTI BANKASI A.S. TURKEY Finance and Insurance

Txtlight Power Solutions Limited (Lumos) NIGERIA Utilities

University of Central Asia TAJIKISTAN Educational Services

UNIVERSITY OF GEORGIA GEORGIA Educational Services

VEHICULOS LIQUIDOS FINANCIEROS SAPI DE C.V. MEXICO Finance and Insurance

VERIDA CREDIT IFN S.A. ROMANIA Finance and Insurance

VERIDA CREDIT IFN S.A. II ROMANIA Finance and Insurance

W R B ENTERPRISES INC JAMAICA Utilities

W4-Banco BAC San Jose, S.A. COSTA RICA Finance and Insurance

W4-Credicorp Bank, S.A. PANAMA Finance and Insurance

W4-Scotiabank de Costa Rica, S.A. COSTA RICA Finance and Insurance

WADE RAIN INC MEXICO Manufacturing

WANANCHI GROUP HOLDINGS LTD AFRICA REGIONAL Information

WBC-African Banking Corporation Zambia Ltd. ZAMBIA Finance and Insurance

WBC-Arrendadora y Comercializadora Lingo SA MEXICO Finance and Insurance

WBC-ATLANTIC GROUP LIMITED UKRAINE Professional, Scientific, and Technical 

Services

WBC-ATLANTIC GROUP LIMITED ("AGL") UKRAINE Professional, Scientific, and Technical 

Services

WBC-BANCO CATHAY DE COSTA RICA S.A. COSTA RICA Finance and Insurance

WBC-Banco Improsa COSTA RICA Finance and Insurance

WBC-BANCO IMPROSA S.A. COSTA RICA Real Estate and Rental and Leasing

WBC-Bank Vostok UKRAINE Finance and Insurance

WBC-COMERCIAL LAEISZ, S.A. DE C.V. HONDURAS Real Estate and Rental and Leasing

WBC-Corporacion Financiera de Occidente MEXICO Finance and Insurance
Page 28 

PROJECT NAME COUNTRY SECTOR

WBC-Degress Holding Limited UKRAINE Retail Trade

WBC-Exitus Capital SAPI de CV SOFOM ENR MEXICO Finance and Insurance

WBC-Fedecredito EL SALVADOR Finance and Insurance

WBC-Financiamiento Progresemos SA de CV SOFO MEXICO Finance and Insurance

WBC-FINANCIERA DESYFIN S.A. COSTA RICA Real Estate and Rental and Leasing

WBC-Financiera Desyfin S.A. II COSTA RICA Finance and Insurance

WBC-Financiera Fama, S.A. NICARAGUA Finance and Insurance

WBC-Golomt Bank LLC MONGOLIA Finance and Insurance

WBC-ICS Prime Capital SRL MOLDOVA Finance and Insurance

WBC-IM OMF Microinvest SRL MOLDOVA Finance and Insurance

WBC-KELLEY GRAINS CORPORATION S.R.L. MOLDOVA Manufacturing

WBC-Kineret SA COSTA RICA Finance and Insurance

WBC-LOLC Micro Credit Limited SRI LANKA Finance and Insurance

WBC-Madura Micro Finance Limited INDIA Finance and Insurance

WBC-Mercader Financial, S.A. de C.V., SOFOM, E.R. MEXICO Finance and Insurance

WBC-MUGANBANK OJSC AZERBAIJAN Finance and Insurance

WBC-NUEVOS ALMACENES S.A. D/B/A/ CEMACO GUATEMALA Retail Trade

WBC-Nurolbank (Senior) TURKEY Finance and Insurance

WBC-Nurolbank (Subordinated) TURKEY Finance and Insurance

WBC-PETERSBURG SOCIAL COMMERCIAL BANK OJSC RUSSIA Finance and Insurance

WBC-PJSC Megabank UKRAINE Finance and Insurance

WBC-Satin Creditcare Network Limited (Seni INDIA Finance and Insurance

WBC-Satin Creditcare Network Limited (Subo INDIA Finance and Insurance

WBC-Sefia MEXICO Finance and Insurance

WBC-Siempre Creciendo, S.A. de C.V., SOFOM, ENR MEXICO Finance and Insurance

WBC-Sociedad Financiera Equipate, S.A. de C.V. S MEXICO Finance and Insurance

WBC-Trans Oil Group MOLDOVA Transportation and Warehousing

WBC-TuranBank II AZERBAIJAN Finance and Insurance

WBC-TURANBANK OJSC AZERBAIJAN Finance and Insurance

WBC-VALLARTA VISION Y MISION A.C. MEXICO Educational Services

WBC-ZAO AIRES RUSSIA Arts, Entertainment, and Recreation

WBC-ZAO AIRES RUSSIA Arts, Entertainment, and Recreation

WEOF Acleda Bank CAMBODIA Finance and Insurance

WESTROCK COFFEE HOLDINGS LLC KENYA Agriculture, Forestry, Fishing and Hunting

WESTROCK COFFEE HOLDINGS LLC RWANDA Agriculture, Forestry, Fishing and Hunting

WESTROCK COFFEE HOLDINGS LLC TANZANIA Agriculture, Forestry, Fishing and Hunting

WESTROCK COFFEE HOLDINGS LLC UGANDA Agriculture, Forestry, Fishing and Hunting

WFUSBF - Brasilieros Venture, LLC BRAZIL Manufacturing

WFUSBF - AIDS Healthcare Foundation AFRICA REGIONAL Health Care and Social Assistance

WFUSBF -- Andrew and Williamson Sales, Co. MEXICO Agriculture, Forestry, Fishing and Hunting

WRB Serra Partners Fund I LATIN AMERICA REGION Finance and Insurance

XacBank LLC MONGOLIA Finance and Insurance

YES Bank INDIA Finance and Insurance

Yes Bank II INDIA Finance and Insurance

ZAMORA, ROBERTO NICARAGUA Finance and Insurance

ZAO STAR NETWORKS RUSSIA Information

ZBE PARTNERS EAD BULGARIA Utilities
Page 29 

APPENDIX B – PROJECT EMISSIONS CALCULATIONS

This appendix contains the inputs, data sources, and calculations used to estimate the 

emissions for each of the projects in OPIC’s CY 2016 GHG inventory. If project sponsor

feedback was submitted in the years from 2007–2015, emissions estimates from those 

years are also presented.

TIER A PROJECTS 

AES Jordan 

Maximum Potential-to-Emit Estimate

AES Jordan’s initial maximum PTE estimate of 1,545,173 STPY of CO2e was calculated 

using the information below. However, in 2016 the emissions exceeded the maximum 

PTE estimate. Therefore, in this inventory and subsequent inventories, the maximum PTE 

was set to the peak emissions year. For AES Jordan, emissions peaked at 1,588,326

short tons of CO2e in CY 2016.

Data Value Source

Fuel Type Natural Gas Project Description

Capacity 370 MW Project Description

Emission Factor 390 g CO2/kWh IFC 2006

Load Adjustment Factor 85/70 Engineering adjustment to align 

maximum PTE with operational data 

supplied by project sponsor for 

inventory years 2009 through 2012.

Maximum Potential-to-Emit = 1,545,173 STPY of CO2e =

370MW * 1000kW * 8000hr * 85 * 390 g CO2 * 0.0000011023 short tons

 MW yr 70 kWh g

2007 Emissions Estimate 

AES Jordan was under construction and not operational during 2007. Since emissions 

from construction would be below the 100,000 short ton threshold, this project was 

omitted from the 2007 inventory.

2008 Emissions Estimate 

AES Jordan’s emissions estimate of 590,940 short tons of CO2e for 2008 was calculated 

using the following information: 

Data Value Source

Fuel Type Natural Gas Project Sponsor

Net Energy Generated 10,103,603 MMBtu Project Sponsor

Emission Factor 53.06 kg CO2/MMBtu TCR, Table 12.1

Emissions = 590,940 short tons of CO2e =
Page 30 

10,103,603 MMBtu * 53.06 kg CO2 * 0.0011023 short tons

 MMBtu kg

2009 Emissions Estimate 

AES Jordan’s emissions estimate of 1,318,130 short tons of CO2e for 2009 was 

calculated using the following information: 

Data Value Source

Fuel Type Natural Gas Project Sponsor

Net Energy Generated 22,536,748 MMBtu Project Sponsor

Emission Factor 53.06 kg CO2/MMBtu TCR, Table 12.1

Emissions = 1,318,130 short tons CO2e =

22,536,748 MMBtu * 53.06 kg CO2 * 0.0011023 short tons

 MMBtu kg

2010 Emissions Estimate 

AES Jordan’s emissions estimate of 1,434,569 short tons of CO2e for 2010 was 

calculated using the following information: 

Data Value Source

Unit 1 Emissions 678,706,541 kg CO2 Project Sponsor

Unit 2 Emissions 622,726,311 kg CO2 Project Sponsor

Emissions = 1,434,569 short tons of CO2e = 

(678,706,541 kg CO2 + 622,726,311 kg CO2) * 0.0011023 short tons

 kg

2011 Emissions Estimate 

AES Jordan’s emissions estimate of 1,184,010 short tons of CO2e for 2011 was 

calculated using the following information: 

Data Value Source

Fuel Type Natural Gas & Diesel Project Sponsor

Total Natural Gas 

Consumption

11,618,556 MMBtu Project Sponsor

Total Diesel Consumption 6,256,271 MMBtu Project Sponsor

Emission Factor Natural 

Gas

53.06 kg CO2/MMBtu TCR, Table 12.1

Emissions Factor Diesel 73.15 kg CO2/MMBtu The Climate Registry, 

Table 12-1

Emissions = 1,184,010 short tons CO2e = 
Page 31 

11,618,556 MMBtu * 53.06 kg CO2 * 0.0011023 short tons + 

 MMBtu kg

 

6,256,271 MMBtu * 73.15 kg CO2 * 0.0011023 short tons

 MMBtu kg

2012 Emissions Estimate 

AES Jordan’s emissions estimate of 936,400 short tons of CO2e for 2012 was calculated 

using the following information: 

Data Value Source

Fuel Type Natural Gas & Diesel Project Sponsor

Total Natural Gas 

Consumption

5,069,853 MMBtu Project Sponsor

Total Diesel Consumption 7,851,448 MMBtu Project Sponsor

Emission Factor Natural 

Gas

53.02 kg CO2/MMBtu TCR 2013

Emissions Factor Diesel 73.96 kg CO2/MMBtu TCR 2013

Emissions = 936,400 short tons CO2e =

5,069,853 MMBtu * 53.02 kg CO2 * 0.0011023 short tons + 

 MMBtu kg

 

7,851,448 MMBtu * 73.96 kg CO2 * 0.0011023 short tons

 MMBtu kg

2013 Emissions Estimate 

AES Jordan’s emissions estimate of 1,514,054 short tons of CO2e for 2013 was 

calculated using the following information: 
Page 32 

Data Value Source

Fuel Type Natural Gas & Diesel Project Sponsor

Natural Gas Consumption

(Lower Heating Value) 

12,225,754.91 MMBtu Project Sponsor

Diesel Consumption

(Lower Heating Value)

8,284,455.54 MMBtu Project Sponsor

Natural Gas - Conversion 

Factor to Higher Heating 

Value

1.10786 GREET

Diesel - Conversion Factor 

to Higher Heating Value

1.069685 GREET

Emission Factor Natural 

Gas

53.02 kg CO2/MMBtu TCR 2013

Emissions Factor Diesel 73.96 kg CO2/MMBtu TCR 2013

Emissions = 1,514,054 short tons CO2e =

12,225,754.91 MMBtu * 53.02 kg CO2 * 0.0011023 short tons * 1.10786 + 

 MMBtu kg

 

8,284,455.54 MMBtu * 73.96 kg CO2 * 0.0011023 short tons * 1.069685

 MMBtu kg

2014 Emissions Estimate 

AES Jordan’s emissions estimate of 1,203,945 short tons of CO2e for 2014 was 

calculated using the following information: 

Data Value Source

Fuel Type Natural Gas & Diesel Project Sponsor

Natural Gas Consumption

(Lower Heating Value) 

4,415,255.552 MMBtu Project Sponsor

Diesel Consumption

(Lower Heating Value)

10,527,411.68 MMBtu Project Sponsor

Natural Gas - Conversion 

Factor to Higher Heating 

Value

1.1079 GREET

Diesel - Conversion Factor 

to Higher Heating Value

1.069685 GREET

Emission Factor Natural 

Gas

53.02 kg CO2/MMBtu TCR 2014

Emissions Factor Diesel 73.96 kg CO2/MMBtu TCR 2014

Emissions = 1,203,945 short tons CO2e =

4,415,255.552 MMBtu * 53.02 kg CO2 * 0.0011023 short tons * 1.1079 + 

 MMBtu kg
Page 33 

 

10,527,411.68 MMBtu * 73.96 kg CO2 * 0.0011023 short tons * 1.069685

 MMBtu kg

2015 Emissions Estimate

AES Jordan’s emissions estimate of 949,925 short tons of CO2e for 2015 was calculated 

using the following information: 

Data Value Source

Fuel Type Natural Gas & Diesel Project Sponsor

Natural Gas Consumption

(Lower Heating Value) 

13,065,796 MMBtu Project Sponsor

Diesel Consumption

(Lower Heating Value)

1,184,608 MMBtu Project Sponsor

Natural Gas - Conversion 

Factor to Higher Heating 

Value

1.10786 GREET

Diesel - Conversion Factor 

to Higher Heating Value

1.069685 GREET

Emission Factor Natural 

Gas

53.06 kg CO2/MMBtu TCR 2015

Emissions Factor Diesel 73.96 kg CO2/MMBtu TCR 2014

Emissions = 949,925 short tons CO2e =

13,065,796 MMBtu * 53.06 kg CO2 * 0.0011023 short tons * 1.10786 + 

 MMBtu kg

 

1,184,608 MMBtu * 73.96 kg CO2 * 0.0011023 short tons * 1.069685

 MMBtu kg

2016 Emissions Estimate 

AES Jordan’s emissions estimate of 1,588,326 short tons of CO2e for 2016 was 

calculated using the following information: 
Page 34 

Data Value Source

Fuel Type Natural Gas & Diesel Project Sponsor

Natural Gas Consumption

(Lower Heating Value) 

24,509,059.97 MMBtu Project Sponsor

Diesel Consumption

(Lower Heating Value)

2,555.967 MMBtu Project Sponsor

Natural Gas - Conversion 

Factor to Higher Heating 

Value

1.10786 GREET

Diesel - Conversion Factor 

to Higher Heating Value

1.069685 GREET

Emission Factor Natural 

Gas

53.06 kg CO2/MMBtu TCR 2017

Emissions Factor Diesel 73.96 kg CO2/MMBtu TCR 2017

Emissions = 1,588,326 short tons CO2e =

24,509,059.97 MMBtu * 53.06 kg CO2 * 0.0011023 short tons * 1.10786 + 

 MMBtu kg

 

2,555.967 MMBtu * 73.96 kg CO2 * 0.0011023 short tons * 1.069685

 MMBtu kg

2017 Emissions Estimate 

AES Jordan’s emissions estimate of 1,401,138 short tons of CO2e for 2017 was 

calculated using the following information: 

Data Value Source

Fuel Type Natural Gas & Diesel Project Sponsor

Natural Gas Consumption

(Lower Heating Value) 

21,623,642.74 MMBtu Project Sponsor

Natural Gas - Conversion 

Factor to Higher Heating 

Value

1.10786 GREET

Emission Factor Natural 

Gas

53.06 kg CO2/MMBtu TCR 2017

Emissions = 1,401,138 short tons CO2e =

21,623,642.74 MMBtu * 53.06 kg CO2 * 0.0011023 short tons * 1.10786 

 MMBtu kg

 
Page 35 

Note: Due to significant operational changes, there was no diesel fuel consumption at 

AES Jordan in 2017. 

AES Levant 

Maximum Potential-to-Emit Estimate

AES Levant’s maximum PTE estimate of 1,409,533 STPY of CO2e was calculated using 

the following information: 

Data Value Source

Fuel Type Heavy Fuel Oil Project Description

Capacity 240 MW Project Description

Emission Factor 666 gCO2/kWh IFC 2012

Conversion Factor 1000 kWh/MWh TCR, Appendix C

Conservative Operating 

Assumption

8000 hr/yr EIA Form 923 data, 2007

Maximum Potential-to-Emit = 1,409,533 STPY of CO2e =

240MW * 666 g CO2 * 1000 kWh * 8000 hr * 1.1023 x 10-6 short tons

 kWh MWh yr g

2014 Emissions Estimate

AES Levant’s 2014 emissions estimate of 467,262 short tons CO2e was calculated using 

the following information:

Data Value Source

Consumption Heavy Fuel Oil 5,600,812.08MMBtu Project Sponsor 

Residual Fuel Oil Emission Factor 75.1 kg CO2/MMBtu TCR 2014

Consumption Distillate Fuel 44,293.51 MMBtu Project Sponsor

Distillate Fuel Oil Emission Factor 73.96 kg CO2/MMBtu TCR 2014

Conversion Factor 0.0011023 short tons/kg TCR 2008

Emissions = 467,262 short tons of CO2e =

5,600,812.08 MMBtu * 75.1 kg CO2 * 0.0011023 short tons +

 MMBtu kg

44,293.51 MMBtu * 73.96 kg CO2 * 0.0011023 short tons

 MMBtu kg

2015 Emissions Estimate

AES Levant’s 2015 emissions estimate of 685,110 short tons CO2e was calculated using 

the following information:
Page 36 

Data Value Source

Consumption Heavy Fuel Oil 7,738,256.34 MMBtu Project Sponsor 

Residual Fuel Oil Emission Factor 75.1 kg CO2/MMBtu TCR 2014

Consumption Distillate Fuel 48,223.72 MMBtu Project Sponsor

Distillate Fuel Oil Emission Factor 73.96 kg CO2/MMBtu TCR 2014

Consumption Natural Gas 693,890 MMBtu Project Sponsor

Natural Gas Emission Factor 53.06 kg CO2/MMBtu TCR 2015

Conversion Factor 0.0011023 short tons/kg TCR 2008

Emissions = 685,110 short tons of CO2e =

7,738,256.34 MMBtu * 75.1 kg CO2 * 0.0011023 short tons +

 MMBtu kg

48,223.72 MMBtu * 73.96 kg CO2 * 0.0011023 short tons + 

 MMBtu kg

693,890 MMBtu * 53.06 kg CO2 * 0.0011023 short tons

 MMBtu kg 

2016 Emissions Estimate

AES Levant’s 2016 emissions estimate of 228,994 short tons CO2e was calculated using 

the following information:

Data Value Source

Consumption Heavy Fuel Oil 1,082.91 MMBtu Project Sponsor 

Residual Fuel Oil Emission Factor 75.1 kg CO2/MMBtu TCR 2017

Consumption Distillate Fuel 45,507.53 MMBtu Project Sponsor

Distillate Fuel Oil Emission Factor 73.96 kg CO2/MMBtu TCR 2017

Consumption Natural Gas 3,850,261 MMBtu Project Sponsor

Natural Gas Emission Factor 53.06 kg CO2/MMBtu TCR 2017

Conversion Factor 0.0011023 short tons/kg TCR 2017

Emissions = 228,994 short tons of CO2e =

1,082.91 MMBtu * 75.1 kg CO2 * 0.0011023 short tons +

 MMBtu kg

45,507.53 MMBtu * 73.96 kg CO2 * 0.0011023 short tons + 

 MMBtu kg

3,850,261 MMBtu * 53.06 kg CO2 * 0.0011023 short tons

 MMBtu kg 

2017 Emissions Estimate
Page 37 

AES Levant’s 2017 emissions estimate of 345,980 short tons CO2e was calculated using 

the following information:

Data Value Source

Consumption Heavy Fuel Oil 37,782.79 MMBtu Project Sponsor 

Residual Fuel Oil Emission Factor 75.1 kg CO2/MMBtu TCR 2017

Consumption Distillate Fuel 73,912.50 MMBtu Project Sponsor

Distillate Fuel Oil Emission Factor 73.96 kg CO2/MMBtu TCR 2017

Consumption Natural Gas 5,758,890.06 MMBtu Project Sponsor

Natural Gas Emission Factor 53.06 kg CO2/MMBtu TCR 2017

Conversion Factor 0.0011023 short tons/kg TCR 2017

Emissions = 345,980 short tons of CO2e =

37,782.79 MMBtu * 75.1 kg CO2 * 0.0011023 short tons +

 MMBtu kg

73,912.50 MMBtu * 73.96 kg CO2 * 0.0011023 short tons + 

 MMBtu kg

5,758,890.06 MMBtu * 53.06 kg CO2 * 0.0011023 short tons

 MMBtu kg 

Contour Global – Togo

Maximum Potential-to-Emit Estimate

Contour Global Togo’s maximum PTE estimate of 587,305 STPY of CO2e was calculated 

using the following information: 

Data Value Source

Fuel Type Fuel Oil Project Description

Capacity 100 MW Project Description

Emission Factor for Electricity 

Generation from Fuel Oil Combustion

666 g CO2/kWh IFC 2012

Maximum Potential-to-Emit = 587,305 STPY of CO2e =

100MW * 1000kW * 8000hr * 666 gCO2 * 0.0000011023 short tons

 MW yr kWh g

2011 Emissions Estimate 

Contour Global Togo’s 2011 emissions estimate of 46,561 short tons CO2e was 

calculated using the following information:
Page 38 

Data Value Source

2011 Emissions 42,239,975 kg Project Sponsor

Conversion Factor 0.0011023 short ton/kg TCR 2008

Emissions = 46,561 short tons of CO2e =

42,239,975 kg * 0.0011023 short ton .

 kg

2012 Emissions Estimate 

Contour Global Togo’s 2012 emissions estimate of 126,192 short tons CO2e was 

calculated using the following information:

Data Value Source

Natural Gas Consumption 16,746,179 m3 Project Sponsor

Conversion Factor 35.314 scf/m3

Natural Gas Calorific Value 1,028 MMBtu/mmscf TCR 2013

Natural Gas Emission Factor 53.02 kg CO2/MMBtu TCR 2013

Heavy Fuel Oil (HFO) 

Consumption

25,417,990 kg Project Sponsor

HFO Net Calorific Value 40.4 TJ/Gg IPCC 2006. Vol. 2, Chap. 1

HFO Emission Factor 77,400 kg CO2/TJ IPCC 2006. Vol. 2, Chap. 1

Light Fuel Oil (LFO) 

Consumption

868,358 kg Project Sponsor

LFO Net Calorific Value 43.0 TJ/Gg IPCC 2006. Vol. 2, Chap. 1

LFO Emissions Factor 74,100 kg CO2/TJ IPCC 2006. Vol. 2, Chap. 1

Conversion Factor 0.0011023 short ton/kg
Page 39 

Emissions = 126,192 short tons of CO2e = 

16,746,179 m3* 35.314 ft3* 10-6 mmscf * 1,028 MMBtu * 53.02 kg CO2 * 0.0011023 short tons + 

m3 scf mmscf MMBtu kg

25,417,990 kg * 10-6 Gg * 40.4 TJ * 77,400 kg CO2 * 0.0011023 short ton +

 kg Gg TJ kg

868,358 kg * 10-6 Gg * 43.0 TJ * 74,100 kg CO2 * 0.0011023 short ton

 kg Gg TJ kg

2013 Emissions Estimate 

Contour Global Togo’s 2013 emissions estimate of 161,830 short tons CO2e was 

calculated using the following information:

Data Value Source

Natural Gas Consumption 16,370,416 m3 Project Sponsor

Natural Gas Higher Heating 

Value

1,028 MMBtu/mmscf

TCR 2013

Natural Gas Emission Factor 53.02 kg CO2/MMBtu TCR 2013

Heavy Fuel Oil (HFO) 

Consumption

34,190,245 kg Project Sponsor

HFO Gross Calorific Value 43 TJ/Gg National Physical 

Laboratory, 2015

HFO Emission Factor 77,400 kg CO2/TJ IPCC 2006. Vol. 2, Chap. 1

Light Fuel Oil (LFO) 

Consumption

463,096 kg Project Sponsor

LFO Gross Calorific Value 44 TJ/Gg National Physical 

Laboratory, 2015

LFO Emissions Factor 74,100 kg CO2/TJ IPCC 2006. Vol. 2, Chap. 1

Conversion Factor 35.314 scf/m3

Conversion Factor 0.0011023 short ton/kg

Emissions = 161,830 short tons of CO2e = 

16,370,416 m3* 35.314 ft3* 10-6 mmscf * 1,028 MMBtu * 53.02 kg CO2 * 0.0011023 short tons + 

m3 scf mmscf MMBtu kg

34,190,245 kg * 10-6 Gg * 43 TJ * 77,400 kg CO2 * 0.0011023 short ton +

 kg Gg TJ kg

463,096 kg * 10-6 Gg * 44 TJ * 74,100 kg CO2 * 0.0011023 short ton

 kg Gg TJ kg

2014 Emissions Estimate 

Contour Global Togo’s 2014 emissions estimate of 55,467 short tons CO2e was 

calculated using the following information:
Page 40 

Data Value Source

Natural Gas Consumption 383,164 m3 Project Sponsor

Natural Gas Higher Heating 

Value

1,028 MMBtu/mmscf

TCR 2014

Natural Gas Emission Factor 53.02 kg CO2/MMBtu TCR 2014

Heavy Fuel Oil (HFO) 

Consumption

14,827,389 kg Project Sponsor

HFO Gross Calorific Value 43 TJ/Gg National Physical 

Laboratory, 2015

HFO Emission Factor 77,400 kg CO2/TJ IPCC 2006. Vol. 2, Chap. 1

Light Fuel Oil (LFO) 

Consumption

71,442 kg Project Sponsor

LFO Gross Calorific Value 44 TJ/Gg National Physical 

Laboratory, 2015

LFO Emissions Factor 74,100 kg CO2/TJ IPCC 2006. Vol. 2, Chap. 1

Conversion Factor 0.0011023 short ton/kg

Conversion Factor 35.314 scf/m3

Emissions = 55,467 short tons of CO2e = 

383,164 m3* 35.314 ft3* 10

-6 mmscf * 1,028 MMBtu * 53.02 kg CO2 * 0.0011023 short tons + 

 m3 scf mmscf MMBtu kg

14,827,389 kg * 10

-6 Gg * 43 TJ * 77,400 kg CO2 * 0.0011023 short ton +

 kg Gg TJ kg

71,442 kg * 10-6 Gg * 44 TJ * 74,100 kg CO2 * 0.0011023 short ton +

 kg Gg TJ kg

2015 Emissions Estimate 

Contour Global Togo’s 2015 emissions estimate of 210,901 short tons CO2e was 

calculated using the following information:
Page 41 

Data Value Source

Natural Gas Consumption 37,671,209 m3 Project Sponsor

Natural Gas Higher Heating 

Value

1,028 MMBtu/mmscf

TCR 2014

Natural Gas Emission Factor 53.06 kg CO2/MMBtu TCR 2015

Heavy Fuel Oil (HFO) 

Consumption

34,704,085 kg Project Sponsor

HFO Gross Calorific Value 43 TJ/Gg National Physical 

Laboratory, 2015

HFO Emission Factor 77,400 kg CO2/TJ IPCC 2006. Vol. 2, Chap. 1

Light Fuel Oil (LFO) 

Consumption

1,000,688 kg Project Sponsor

LFO Gross Calorific Value 44 TJ/Gg National Physical 

Laboratory, 2015

LFO Emissions Factor 74,100 kg CO2/TJ IPCC 2006. Vol. 2, Chap. 1

Conversion Factor 0.0011023 short ton/kg

Conversion Factor 35.314 scf/m3

Emissions = 210,901 short tons of CO2e = 

37,671,209 m3* 35.314 ft3* 10-6 mmscf * 1,028 MMBtu * 53.06 kg CO2 * 0.0011023 short tons + 

 m3 scf mmscf MMBtu kg

34,704,085 kg * 10

-6 Gg * 43 TJ * 77,400 kg CO2 * 0.0011023 short ton +

 kg Gg TJ kg

1,000,688 kg * 10

-6 Gg * 44 TJ * 74,100 kg CO2 * 0.0011023 short ton +

 kg Gg TJ kg

2016 Emissions Estimate 

Contour Global Togo’s 2016 emissions estimate of 496,564 short tons CO2e was 

calculated using the following information:
Page 42 

Data Value Source

Natural Gas Consumption 6,772,234 m3 Project Sponsor

Natural Gas Higher Heating 

Value

1,028 MMBtu/mmscf

TCR 2017

Natural Gas Emission Factor 53.06 kg CO2/MMBtu TCR 2017

Heavy Fuel Oil (HFO) 

Consumption

130,571,129 kg Project Sponsor

HFO Gross Calorific Value 43 TJ/Gg National Physical 

Laboratory, 2015

HFO Emission Factor 77,400 kg CO2/TJ IPCC 2006. Vol. 2, Chap. 1

Light Fuel Oil (LFO) 

Consumption

879,764 kg Project Sponsor

LFO Gross Calorific Value 44 TJ/Gg National Physical 

Laboratory, 2015

LFO Emissions Factor 74,100 kg CO2/TJ IPCC 2006. Vol. 2, Chap. 1

Conversion Factor 0.0011023 short ton/kg

Conversion Factor 35.314 scf/m3

Emissions = 496,564 short tons of CO2e = 

6,772,234 m3* 35.314 ft3* 10-6 mmscf * 1,028 MMBtu * 53.06 kg CO2 * 0.0011023 short tons + 

 m3 scf mmscf MMBtu kg

130,571,129 kg * 10-6 Gg * 43 TJ * 77,400 kg CO2 * 0.0011023 short ton +

 kg Gg TJ kg

879,764 kg * 10-6 Gg * 44 TJ * 74,100 kg CO2 * 0.0011023 short ton

 kg Gg TJ kg

2017 Emissions Estimate 

Contour Global Togo’s 2017 emissions estimate of 329,875 short tons CO2e was 

calculated using the following information:

Data Value Source

Heavy Fuel Oil (HFO) 

Consumption

89,643,850 kg Project Sponsor

HFO Gross Calorific Value 43 TJ/Gg National Physical 

Laboratory, 2015

HFO Emission Factor 77,400 kg CO2/TJ IPCC 2006. Vol. 2, Chap. 1

Light Fuel Oil (LFO) 

Consumption

278,480 kg Project Sponsor

LFO Gross Calorific Value 44 TJ/Gg National Physical 

Laboratory, 2015

LFO Emissions Factor 74,100 kg CO2/TJ IPCC 2006. Vol. 2, Chap. 1

Conversion Factor 0.0011023 short ton/kg
Page 43 

Emissions = 329,875 short tons of CO2e = 

89,643,850 kg * 10-6 Gg * 43 TJ * 77,400 kg CO2 * 0.0011023 short ton +

 kg Gg TJ kg

278,480 kg * 10-6 Gg * 44 TJ * 74,100 kg CO2 * 0.0011023 short ton

 kg Gg TJ kg

Contour Global – Cap Des Biches

Maximum Potential-to-Emit Estimate

Contour Global Cap Des Biches’s maximum PTE estimate of 505,083 STPY of CO2e was 

calculated using the following information: 

Data Value Source

Fuel Type Fuel Oil Project Description

Capacity 86 MW Project Description

Emission Factor for Electricity 

Generation from Fuel Oil Combustion

666 g CO2/kWh IFC 2012

Maximum Potential-to-Emit = 505,083 STPY of CO2e =

86MW * 1000kW * 8000hr * 666 gCO2 * 0.0000011023 short tons

 MW yr kWh g

2016 Emissions Estimate 

Contour Global Cap Des Biches’s 2016 emissions estimate of 184,699 short tons CO2e 

was calculated using the following information:

Data Value Source

Heavy Fuel Oil (HFO) 

Consumption

50,309,812 kg Project Sponsor

HFO Gross Calorific Value 43 TJ/Gg National Physical 

Laboratory, 2015

HFO Emission Factor 77,400 kg CO2/TJ IPCC 2006. Vol. 2, Chap. 1

Light Fuel Oil (LFO) 

Consumption

35,743 kg Project Sponsor

LFO Gross Calorific Value 44 TJ/Gg National Physical 

Laboratory, 2015

LFO Emissions Factor 74,100 kg CO2/TJ IPCC 2006. Vol. 2, Chap. 1

Conversion Factor 0.0011023 short ton/kg

Emissions = 184,699 short tons of CO2e = 

50,309,812 kg * 10-6 Gg * 43 TJ * 77,400 kg CO2 * 0.0011023 short ton +

 kg Gg TJ kg
Page 44 

35,743 kg * 10-6 Gg * 44 TJ * 74,100 kg CO2 * 0.0011023 short ton

 kg Gg TJ kg

2017 Emissions Estimate 

Contour Global Cap Des Biches’s 2017 emissions estimate of 407,735 short tons CO2e 

was calculated using the following information:

Data Value Source

Heavy Fuel Oil (HFO) 

Consumption

110,983,151 kg Project Sponsor

HFO Gross Calorific Value 43 TJ/Gg National Physical 

Laboratory, 2015

HFO Emission Factor 77,400 kg CO2/TJ IPCC 2006. Vol. 2, Chap. 1

Light Fuel Oil (LFO) 

Consumption

159,573 kg Project Sponsor

LFO Gross Calorific Value 44 TJ/Gg National Physical 

Laboratory, 2015

LFO Emissions Factor 74,100 kg CO2/TJ IPCC 2006. Vol. 2, Chap. 1

Conversion Factor 0.0011023 short ton/kg

Emissions = 407,735 short tons of CO2e = 

110,983,151 kg * 10-6 Gg * 43 TJ * 77,400 kg CO2 * 0.0011023 short ton +

 kg Gg TJ kg

159,573 kg * 10-6 Gg * 44 TJ * 74,100 kg CO2 * 0.0011023 short ton

 kg Gg TJ kg

Gaza Private Generating PLC 

Maximum Potential-to-Emit Estimate

Gaza Private Generating PLC’s maximum PTE estimate of 481,485 STPY of CO2e was 

calculated using the following information: 

Data Value Source

Fuel Type Natural Gas Project Description

Capacity 140 MW Project Description

Emission Factor 390 g CO2/kWh IFC 2012

Maximum Potential-to-Emit = 481,485 STPY of CO2e =

140MW * 1000kW * 8000hr * 390 g CO2 * 0.0000011023 short tons

 MW yr kWh g
Page 45 

2007 Emissions Estimate 

Gaza Private Generating PLC’s 2007 emissions estimate of 293,804 short tons of CO2e

was calculated using the following information:

Data Value Source

Fuel Type Natural Gas Project Description

Capacity 136.4 MW Project Sponsor

2007 Emissions 266,539 metric tons Project Sponsor

Emissions = 293,804 short tons of CO2e =

266,539 metric tons * short ton .

 0.9072 metric tons

2008 Emissions Estimate 

Gaza Private Generating PLC’s 2008 emissions estimate of 303,535 short tons CO2e

was calculated using the following information:

Data Value Source

Fuel Type Natural Gas Project Description

Capacity 136.4 MW Project Sponsor

2008 Emissions 275,367 metric tons Project Sponsor

Emissions = 303,535 short tons of CO2e =

275,367 metric tons * short ton .

 0.9072 metric tons

2009 Emissions Estimate 

Gaza Private Generating PLC’s emissions estimate of 325,926 short tons of CO2e was 

calculated using the following information:

Data Value Source

Fuel Type LFO No.2 Project Description

Capacity 80 MW (2009 Capacity) Project Sponsor

2009 Emissions 295,680 metric tons Project Sponsor

Emissions = 325,926 short tons of CO2e =

295,680 metric tons * short ton .

 0.9072 metric tons

2010 Emissions Estimate 

Gaza Private Generating PLC’s emissions estimate of 228,627 short tons of CO2e was 

calculated using the following information:
Page 46 

Data Value Source

Fuel Type LFO No.2 Project Description

Capacity 80 MW (2009 Capacity) Project Sponsor

2010 Emissions 207,410 metric tons Project Sponsor

Emissions = 228,627 short tons of CO2e =

207,410 metric tons * short ton .

 0.9072 metric tons

2011 Emissions Estimate 

Gaza Private Generating PLC’s emissions estimate of 405,262 short tons of CO2e was 

calculated using the following information:

Data Value Source

Fuel Type LFO No.2 Project Description

Capacity 80 MW (2009 Capacity) Project Sponsor

2011 Emissions 367,654 metric tons Project Sponsor

Emissions = 405,262 short tons of CO2e =

367,654 metric tons * short tons .

 0.9072 metric tons

2012 Emissions Estimate 

Gaza Private Generating PLC’s emissions estimate of 192 short tons of CO2e was 

calculated using the following information:

Data Value Source

Fuel Type Natural Gas Project Sponsor

Natural Gas Consumption 99,093 m3 Project Sponsor

Natural Gas Emission 

Factor

0.05 kg CO2/sfc TCR 2013

Unit Conversion 35.31 scf/ m3

Unit Conversion 0.001 metric tons/kg

Unit Conversion 1.1 short ton/metric 

ton

Emissions = 192 short tons of CO2e = 

99,093 m3* 35.31 scf * 0.05 kg CO2 * 0.001 metric tons * 1.1 short ton

 m3 scf kg metric ton

2013 Emissions Estimate

According to Amnesty International news, the Gaza power plant ran at a capacity of 60 

MW approximately 12 hours per day up until November 1, 2013, at which point the plant 
Page 47 

completely shut down. The curtailment in operating days is reflected in the 2013 

emissions estimate of 161,215 short tons of CO2e for Gaza Private Generating PLC.

Data Value Source

Fuel Type Diesel Project Sponsor

Capacity 60 MW Project Sponsor

Hours of operation 12 hours/day Amnesty International News, 

2013

Days of year in operation 305 Amnesty International News, 

2013

Emission Factor 666 kg CO2/MWh IFC 2012

Unit Conversion 0.0011023 short 

tons/kg

Emissions = 161,215 short tons of CO2e =

60 MW * 12 hours * 305 days * 666 kg CO2 * 0.0011023 short tons

 day MWh kg

2014 Emissions Estimate

Gaza Private Generating PLC’s 2014 emissions estimate of 193,406 short tons CO2e

was calculated using the following information:

Data Value Source

Fuel Type Diesel Project Sponsor

Diesel Consumption 65,074 m3 Project Sponsor

Conversion Factor 264.172 gallons/m3

Conversion Factor (Diesel) 0.138 MMBtu per gallon Diesel

Emissions Factor (Diesel) 73.96 kg CO2/MMBtu TCR 2014

Emissions = 193,406 short tons of CO2e =

65,074 m3* 264.172 gallons * 0.138 MMBtu * 73.96 kg CO2 * 0.0011023 short tons

 m3 gallon MMBtu kg

2015 Emissions Estimate

Gaza Private Generating PLC’s 2015 emissions estimate of 253,808 short tons CO2e

was calculated using the following information:

Data Value Source

Fuel Type Diesel Project Sponsor

Diesel Consumption 85,397 m3 Project Sponsor

Conversion Factor 264.172 gallons/m3

Conversion Factor (Diesel) 0.138 MMBtu per gallon Diesel

Emissions Factor (Diesel) 73.96 kg CO2/MMBtu TCR 2014
Page 48 

Emissions = 253,808 short tons of CO2e =

85,397 m3* 264.172 gallons * 0.138 MMBtu * 73.96 kg CO2 * 0.0011023 short tons

 m3 gallon MMBtu kg

2016 Emissions Estimate

Gaza Private Generating PLC’s 2016 emissions estimate of 246,460 short tons CO2e

was calculated using the following information:

Data Value Source

Fuel Type Diesel Project Sponsor

Diesel Consumption 82,924.84 m3 Project Sponsor

Conversion Factor 264.172 gallons/m3

Conversion Factor (Diesel) 0.138 MMBtu per gallon Diesel

Emissions Factor (Diesel) 73.96 kg CO2/MMBtu TCR 2017

Emissions = 246,460 short tons of CO2e =

82,924.84 m3* 264.172 gallons * 0.138 MMBtu * 73.96 kg CO2 * 0.0011023 short tons

 m3 gallon MMBtu kg

2017 Emissions Estimate

Gaza Private Generating PLC’s 2017 emissions estimate of 269,253 short tons CO2e

was calculated using the following information:

Data Value Source

Fuel Type Diesel Project Sponsor

Diesel Consumption 90,593.6 m3 Project Sponsor

Conversion Factor 264.172 gallons/m3

Conversion Factor (Diesel) 0.138 MMBtu per gallon Diesel

Emissions Factor (Diesel) 73.96 kg CO2/MMBtu TCR 2017

Emissions = 269,253 short tons of CO2e =

90,593.6 m3* 264.172 gallons * 0.138 MMBtu * 73.96 kg CO2 * 0.0011023 short tons

 m3 gallon MMBtu kg

TIER B PROJECTS

ACU Petroleo S.A.

Maximum Potential-to-Emit Estimate

ACU Petroleo S.A.’s project description states that the project is expected to emit up to 

200,000 tons of CO2e per year from vapor combustion during ship to ship operations. An 

additional 150,000 tons of CO2e per year may occur from fuel combustion in dredging 
Page 49 

activities. Therefore, the maximum PTE is the sum of vapor combustion and dredging 

activity emissions in the amount of 350,000 short tons of CO2e. 

2016 Emissions Estimate

ACU Petroleo’s 2016 emissions estimate of 378.6 short tons of CO2e was calculated 

using the following information:

Data Value Source

Diesel Consumption 125,641 Liters Project Sponsor

Liter to Gallons Conversion 0.264 Conversion 

Conversion Factor (Diesel, 

low sulfur)

0.14 MMBtu/gallon TCR, 2017

Emissions Factor (Diesel, 

low sulfur)

73.96 kg CO2/MMBtu TCR, 2017

Expected tCO2 per year from 

Vapor combustion

200,000 tCO2 Project Sponsor

Vapor Combustion Unit 

Utilization

0% OPIC

Kg per Short Ton 0.0011023 Conversion Factor

Short Tons per Metric Ton 1.1023 Conversion Factor

Emissions = 378.6 short tons CO2e = Stationary Combustion Emissions + Vapor 

Combustion Emissions

Where,

Stationary Combustion Emissions = 378.6 tons CO2e =

125,641 liters * 0.264 gallons * 0.14 MMBtu * 73.96 kg CO2 * 0.0011023 short tons

 Liter gallon MMBtu kg

 

Vapor Combustion Emissions = 0 tons CO2e =

200,000 tCO2 * 0% * 1.1023 short tons

Year metric ton

2017 Emissions Estimate

Acu Petroleo confirmed there were ship-to-ship oil transfer operations in CY 2017;

however, these operations were conducted using a vapor balance system, thus avoiding 

the need for vapor combustion. For that reason, vapor combustion emissions were 

assessed as null. Additionally, Acu Petroleo reported the occurrence of dredging 

activities.

Based on best available information, ACU Petroleo’s 2017 emissions were estimated at

126,160 short tons of CO2e and were assessed as follows:
Page 50 

Data Value Source

Stationary Diesel 

Consumption

384,932 Liters Project Sponsor

Liter to Gallons Conversion 0.264 Conversion 

Conversion Factor (Diesel, 

low sulfur)

0.14 MMBtu/gallon TCR, 2017

Emissions Factor (Diesel, 

low sulfur)

73.96 kg CO2/MMBtu TCR, 2017

Expected tCO2 per year from 

Vapor Combustion

0 tCO2 Project Sponsor

Expected tCO2 per year from 

Dredging

150,000 tCO2e Project Description

Months of the year with 

Dredging

10 months of dredging Project Sponsor

Kg per Short Ton 0.0011023 Conversion Factor

Short Tons per Metric Ton 1.1023 Conversion Factor

Emissions = 126,160 short tons CO2e 

= Stationary Combustion Emissions + Vapor Combustion Emissions + Dredging 

Emissions

Where,

Stationary Combustion Emissions = 1,160 tons CO2e =

384,932 liters * 0.264 gallons * 0.14 MMBtu * 73.96 kg CO2 * 0.0011023 short tons

 Liter gallon MMBtu kg

 

Vapor Combustion Emissions = 0 tons CO2e 

Dredging Activity Emissions = 125,000 short tons CO2e = 

150,000 tCO2 * 10 months of dredging

Year 12 months per year

Various Egypt Subsidiaries (Apache) 

Maximum Potential-to-Emit Estimate

Various Egypt Subsidiaries (Apache)’s initial maximum PTE estimate of 2,429,543 STPY

of CO2e was originally calculated for the CY 2007 GHG inventory using an example from 

API for a similar oil and gas extraction and processing facility. The API example produced 

6,100 barrels of oil per day and 30 mmscf natural gas per day for annual emissions of 
Page 51 

108,000 metric tons of CO2, approximately one-tenth the amount of Apache’s estimated 

footprint. In subsequent GHG inventories, it became evident that Apache’s maximum 

potential-to-emit is commensurate to added production capacity, so the maximum PTE 

was set to the peak emissions year. Various Egypt Subsidiaries’ emissions peaked at 

4,539,735 short tons of CO2e in CY 2017.

Data Value Source

Fuel Type Oil and Natural Gas Project Description

Production 

Volumes

29,934,702 barrels oil per year

89,910 mmscf natural gas per year

Project Description

“Emissions 

Factors”

108,000 metric tons CO2 per year for a 

facility that produces 6100 barrels oil per 

day and 30 mmscf natural gas per day

API 2004, Table 7-4

Multiplication 

Factor

10 Factor applied to account for 

approximate size 

discrepancy between 

Apache and example

Operating 

Capacity 

Adjustment

49% Project Sponsor

Maximum Potential-to-Emit = 2,429,543 STPY of CO2e =

108,000 metric tons CO2 * short tons * 10 * 1

yr 0.9072 metric tons 0.49

2007 Emissions Estimate

Various Egypt Subsidiaries (Apache)’s 2007 emissions estimate of 3,071,932 short tons 

of CO2e was calculated using the following information:

Data Value Source

2007 Emissions 1,365,560 metric tons Project Sponsor

Operating Capacity Adjustment 49% Project Sponsor

Emissions = 3,071,932 short tons of CO2e =

1,365,560 metric tons * short ton * 1 

 0.9072 metric tons 0.49

2008 Emissions Estimate

Various Egypt Subsidiaries (Apache)’s 2008 emissions estimate of 3,244,189 short tons 

of CO2e was calculated using the following information:

Data Value Source

Net Emissions 1,464,566 metric tons Project Sponsor

Operating Capacity Adjustment 49% Project Sponsor
Page 52 

Emissions = 3,244,189 short tons of CO2e =

1,464,566 metric tons * short tons * 1 

 0.9072 metric tons 0.49

2009 Emissions Estimate

Various Egypt Subsidiaries (Apache)’s 2009 operational emissions of 3,294,654 short 

tons of CO2e were calculated using the following information:

Data Value Source

Net Emissions 1,464,566 metric tons Project Sponsor

Operating Capacity Adjustment 49% Project Sponsor

Emissions = 3,294,654 short tons of CO2e =

1,464,566 metric tons * 1 short ton . * 1

 0.9072 metric ton 0.49

2010 Emissions Estimate

Various Egypt Subsidiaries (Apache)’s 2010 emissions estimate of 3,465,842 short tons 

of CO2e was calculated using the following information:

Data Value Source

Net Emissions 1,540,664 metric tons Project Sponsor

Operating 

Capacity

49% Project Sponsor

Emissions = 3,465,842 short tons of CO2e =

1,540,664 metric tons * 1 short ton . * 1

 0.9072 metric ton 0.49

2011 Emissions Estimate

Various Egypt Subsidiaries (Apache)’s 2011 gross emissions estimate of 4,438,554 short 

tons of CO2e was calculated using the following information:

Data Value Source

Gross Emissions 4,026,656 metric tons Project Sponsor

Emissions = 4,438,554 short tons of CO2e =

4,026,656 metric tons * 1 short ton 

 0.9072 metric ton

2012 Emissions Estimate
Page 53 

Various Egypt Subsidiaries (Apache)’s 2012 gross emissions estimate of 4,178,447 short 

tons of CO2e was calculated using the following information:

Data Value Source

Gross Emissions 3,790,687 metric tons Project Sponsor

Emissions = 4,178,447 short tons of CO2e =

3,790,687 metric tons * 1 short ton 

 0.9072 metric ton

2013 Emissions Estimate

Various Egypt Subsidiaries (Apache)’s 2013 gross emissions estimate of 4,056,437 short 

tons of CO2e was calculated using the following information: 

Data Value Source

Gross Emissions 3,680,000 metric tons Project Sponsor

Emissions = 4,056,437 short tons of CO2e =

3,680,000 metric tons * 1 short ton 

 0.9072 metric ton

2014 Emissions Estimate

Various Egypt Subsidiaries (Apache)’s 2014 gross emissions estimate of 4,012,346 short 

tons of CO2e was calculated using the following information: 

Data Value Source

Gross Emissions 3,640,000 metric tons Project Sponsor

Emissions = 4,012,346 short tons of CO2e =

3,640,000 metric tons * 1 short ton 

 0.9072 metric ton

2015 Emissions Estimate

Various Egypt Subsidiaries (Apache)’s 2015 gross emissions estimate of 3,891,093 short 

tons of CO2e was calculated using the following information: 

Data Value Source

Gross Emissions 3,530,000 metric tons Project Sponsor

Emissions = 3,891,093 short tons of CO2e =

3,530,000 metric tons * 1 short ton 

 0.9072 metric ton
Page 54 

2016 Emissions Estimate

Various Egypt Subsidiaries (Apache)’s 2016 gross emissions estimate of 4,007,936.51

short tons of CO2e was calculated using the following information: 

Data Value Source

Gross Emissions 3,636,000 metric tons Project Sponsor

Emissions = 4,007,936.51 short tons of CO2e =

3,636,000 metric tons * 1 short ton 

 0.9072 metric ton

2017 Emissions Estimate

Various Egypt Subsidiaries (Apache)’s 2017 gross emissions estimate of 4,539,735.45 

short tons of CO2e was calculated using the following information: 

Data Value Source

Gross Emissions 4,118,448 metric tons Project Sponsor

Emissions = 4,539,735.45 short tons of CO2e =

4,118,448 metric tons * 1 short ton 

 0.9072 metric ton

West African Gas Pipeline 

Maximum Potential-to-Emit Estimate

The West African Gas Pipeline’s maximum PTE calculation of 189,800 STPY of CO2e

accounts for both combustion emissions from the compression and transmission of 

natural gas, as well as venting and fugitive emissions, using the following information:

Data Value Source

Pipeline Throughput 190 mmscf per day Project Description

Operating Assumption 333 days per year

Conversion Factor 0.02832 106 m3 per mmscf

Fugitive Emissions Factor (CH4) 1.1x10-3 Gg per 106 m3 2006 IPCC. Vol. 2, Ch. 4

Fugitive Emissions Factor (CO2) 2.0x10-6 Gg per 106 m3 2006 IPCC. Vol. 2, Ch. 4

Venting Emissions Factor (CH4) 7.4x10-4 Gg per 106 m3 2006 IPCC. Vol. 2, Ch. 4

Venting Emissions Factor (CO2) 7.3x10-6 Gg per 106 m3 2006 IPCC. Vol. 2, Ch. 4

Storage Emissions Factor (CH4) 5.8x10-5 Gg per 106 m3 2006 IPCC. Vol. 2, Ch. 4

Storage Emissions Factor (CO2) 2.6x10-7 Gg per 106 m3 2006 IPCC. Vol. 2, Ch. 4

CH4 Global Warming Potential 21 SAR

Fraction of pipeline throughput 

used to power the system

0.02925 EIA 2008

Natural Gas Combustion Factor 0.05444 kg CO2 per scf TCR 2015

Conversion Factor 0.0011023 short tons per kg
Page 55 

Maximum Potential to Emit = 189,800 STPY of CO2e = Maximum Fugitive Emissions +

Maximum Combustion Emissions 

Maximum Fugitive Emissions = 78,743 STPY of CO2e =

190 mmscf * 333 days * 0.02832 * 106 m3 * 

 year mmscf 

(1.1*10-3 Gg CH4 * 21) + (2.0*10-6 Gg CO2) + (7.4*10-4 Gg CH4 * 21) +

 106 m3 106 m3 106 m3

(7.3 * 10-6 Gg CO2) + (5.8x10-5 Gg CH4 * 21) + (2.6x10-7 Gg CO2) *

 106 m3 106 m3 106 m3

106 kg * 0.0011023 short tons

 Gg kg

Maximum Combustion Emissions = 111,057 STPY of CO2e =

190 mmscf * 333 days * 106 scf * 0.02925 * 0.05444 kg CO2 * 0.0011023 short tons

 day year 1 mmscf scf kg

2007 Emissions Estimate 

The West African Gas Pipeline was under construction and not operational during 2007. 

Since emissions from construction would have been below the 100,000 short ton 

threshold, this project was omitted from the 2007 inventory.

2008 Emissions Estimate 

The West African Gas Pipeline was not operational during 2008. Since emissions would 

have been below the 100,000 short ton threshold, this project was omitted from the 2008 

inventory.

2009 Emissions Estimate 

No additional data were available. 2009 data defaulted to the maximum potential-toemit.

2010 Emissions Estimate 

West African Gas Pipeline’s 2010 emissions estimate of 70,925 short tons of CO2e was 

calculated using the following information:

Data Value Source

Pipeline Throughput 71 mmscf per day Project Description

Operating Assumption 333 days per year

Conversion Factor 0.02832 106 m3 per mmscf

Fugitive Emissions Factor (CH4) 1.1x10-3 Gg per 106 m3 2006 IPCC. Vol. 2, Ch. 4

Fugitive Emissions Factor (CO2) 2.0x10-6 Gg per 106 m3 2006 IPCC. Vol. 2, Ch. 4
Page 56 

Data Value Source

Venting Emissions Factor (CH4) 7.4x10-4 Gg per 106 m3 2006 IPCC. Vol. 2, Ch. 4

Venting Emissions Factor (CO2) 7.3x10-6 Gg per 106 m3 2006 IPCC. Vol. 2, Ch. 4

Storage Emissions Factor (CH4) 5.8x10-5 Gg per 106 m3 2006 IPCC. Vol. 2, Ch. 4

Storage Emissions Factor (CO2) 2.6x10-7 Gg per 106 m3 2006 IPCC. Vol. 2, Ch. 4

CH4 Global Warming Potential 21 SAR

Fraction of pipeline throughput 

used to power the system

0.02925 EIA 2008

Natural Gas Combustion Factor 0.05444 kg CO2 per scf TCR 2015

Conversion Factor 0.0011023 short tons per kg

Total Emissions = 70,925 short tons of CO2e = Fugitive Emissions + Combustion 

Emissions 

Fugitive Emissions = 29,425 short tons of CO2e =

71 mmscf * 333 days * 0.02832 * 106 m3 * 

 year mmscf 

(1.1*10-3 Gg CH4 * 21) + (2.0*10-6 Gg CO2) + (7.4*10-4 Gg CH4 * 21) +

 106 m3 106 m3 106 m3

(7.3 * 10-6 Gg CO2) + (5.8x10-5 Gg CH4 * 21) + (2.6x10-7 Gg CO2) *

 106 m3 106 m3 106 m3

106 kg * 0.0011023 short tons

 Gg kg

Combustion Emissions = 41,500 short tons of CO2e =

71 mmscf * 333 days * 106 scf * 0.02925 * 0.05444 kg CO2 * 0.0011023 short tons

 day year 1 mmscf scf kg

2011 Emissions Estimate 

West African Gas Pipeline’s 2011 emissions estimate is 86,617 short tons of CO2e. 

According to project sponsor feedback, there were 38,505 short tons of CO2e emissions 

associated with combustion emissions and 48,112 short tons of CO2e emissions 

associated with fugitive emissions. 

2012 Emissions Estimate 

West African Gas Pipeline’s 2012 emissions estimate is 86,617 short tons of CO2e. 

According to project sponsor feedback, there were 38,505 short tons of CO2e emissions 

associated with combustion emissions and 48,112 short tons of CO2e emissions 

associated with fugitive emissions, which represent the same emission levels asserted 

by the Project Sponsor for the 2011 GHG Inventory. The level of emissions claimed in 

2012 represent 35% of the project’s maximum potential-to-emit. 
Page 57 

2013 Emissions Estimate

No additional data were available for 2013; therefore, emissions estimate defaulted to the 

2012 emissions estimate of 86,617 short tons of CO2e.

2014 Emissions Estimate

No additional data was available for 2014; therefore, emissions estimate defaulted to the 

2012 emissions estimate of 86,617 short tons of CO2e.

2015 Emissions Estimate

West African Gas Pipeline’s 2015 emissions of 68,281 CO2e was calculated using the 

following information:

Data Value Source

2015 Pipeline Throughput 23,353,493.33 MMBtu Project Sponsor

Natural Gas Heat Content 1026 MMBtu per mmscf TCR 2015

Conversion Factor 0.02832 106 m3 per mmscf

Fugitive Emissions Factor (CH4) 1.1x10-3 Gg per 106 m3 2006 IPCC. Vol. 2, Ch. 4

Fugitive Emissions Factor (CO2) 2.0x10-6 Gg per 106 m3 2006 IPCC. Vol. 2, Ch. 4

Venting Emissions Factor (CH4) 7.4x10-4 Gg per 106 m3 2006 IPCC. Vol. 2, Ch. 4

Venting Emissions Factor (CO2) 7.3x10-6 Gg per 106 m3 2006 IPCC. Vol. 2, Ch. 4

Storage Emissions Factor (CH4) 5.8x10-5 Gg per 106 m3 2006 IPCC. Vol. 2, Ch. 4

Storage Emissions Factor (CO2) 2.6x10-7 Gg per 106 m3 2006 IPCC. Vol. 2, Ch. 4

CH4 Global Warming Potential 21 SAR

Fraction of pipeline throughput 

used to power the system

0.02925 EIA 2008

Natural Gas Combustion Factor 0.05444 kg CO2 per scf TCR 2015

Conversion Factor 0.0011023 short tons per kg

Total Emissions = 68,281 short tons of CO2e = Fugitive Emissions + Combustion 

Emissions

Fugitive Emissions = 28,328 short tons of CO2e =

23,353,493.33 MMBtu * 1 mmscf * 0.02832 * 106 m3 *

 1026 MMBtu mmscf 

(1.1*10-3 Gg CH4 * 21) + (2.0*10-6 Gg CO2) + (7.4*10-4 Gg CH4 * 21) +

 106 m3 106 m3 106 m3

(7.3 * 10-6 Gg CO2) + (5.8x10-5 Gg CH4 * 21) + (2.6x10-7 Gg CO2) *

 106 m3 106 m3 106 m3
Page 58 

106 kg * 0.0011023 short tons

 Gg kg

Combustion Emissions = 39,953 short tons of CO2e =

23,353,493.33 MMBtu * 1 mmscf * 1,000,000 scf * 0.02925 * 0.05444 kg CO2 * 

 1026 MMBtu 1 mmscf scf 

0.0011023 short tons

 kg

2016 Emissions Estimate

No additional data was available for 2016; therefore, the emissions estimate defaulted to 

the 2015 emissions estimate of 68,281 short tons of CO2e.

2017 Emissions Estimate

The project sponsor implemented an internal GHG monitoring plan which follows API 

protocols. Based on this methodology, they estimate emissions of 13,434 metric tons of 

CO2 in 2017. This was then converted to short tons for a total of 14,808 short tons of 

CO2 in 2017. Therefore, the project falls below the threshold of 25,000 tons for year 

2017. 

Data Value Source

2017 CO2 Emissions 13,434 tons of CO2 Project Sponsor

Conversion Factor 1.1023 short tons/metric ton

Emissions = 14,808 short tons of CO2e =

13,434 metric tons * 1.1023 short ton 

 1 metric ton

TIER C PROJECTS

Tier C projects were not included in the 2007 and 2008 inventories. Emissions 

calculations for these projects have been included in all inventories from 2009 to the 

present.

Aga Khan and Medical College Foundation 

Maximum Potential-to-Emit Estimate

Aga Khan’s maximum PTE estimate of 72,965 STPY of CO2e was calculated using the 

following information:

Data Value Source

Small Boiler Rating 1 ton of steam/hr Project Description

Small Boiler Count 2 Project Description

Large Boiler Rating 10 tons of steam/hr Project Description
Page 59 

Data Value Source

Large Boiler Count 4 Project Description

Conversion Factor 2,000 lbs/short tons

Boiler Efficiency 0.80 Project Description

Steam Enthalpy at 212  ̊F 

and 0 psig

1,150 Btu/lbs Saturated Steam Table

Conservative Operating 

Assumption

8,000 hr/yr EIA Form 923 data, 2007

Conversion Factor 0.000001 MMBtu/Btu

Electricity Generation 

Nameplate Capacity

4.8 MW Project Description

Emission Factor: 

Generation w/ Natural Gas

390 g CO2/kWh IFC 2012

Emission Factor: 

Combustion of Natural Gas

53.02 kg CO2/MMBtu TCR 2014

Conversion Factor 1,000 kWh/MWh TCR, Appendix C

Conversion Factor 0.000001 metric tons/g

Conversion Factor 1.1023 short tons/metric ton

Maximum Potential-to-Emit = 72,965 STPY of CO2e =

[(1 tons * 2) + (10 tons * 4)] * 1 * 8,000 hr * 1,150 Btu * 2,000 lbs * 10

-6 MMBtu 

 hr 0.8 yr lb short ton Btu

* 53.02 kg CO2 * 10

-3 metric ton + 4.8 MW * 8,000 hr * 1,000 kWh * 390 g CO2 

 MMBtu kg yr MWh kWh 

* 10

-6 metric ton * 1.1023 short tons

 g metric ton

2014 Emissions Estimate

Aga Khan’s 2014 emissions estimate of 25,064 short tons of CO2e was calculated using 

the following information:

Data Value Source

Natural Gas Consumption 12,879,049 m3 Project Sponsor

Conversion Factor 35.31 scf/m3

Emission Factor Natural Gas 0.05 kg CO2/scf TCR 2014

Conversion Factor 0.001 metric tons/kg

Conversion Factor 1.1023 short tons/metric ton

Emissions = 25,064 short tons of CO2e =

12,879,000 m3 * 35.31 scf * 0.05444 kg CO2 * 10

-3 metric ton * 1.1023 short tons

 m3 scf kg metric ton
Page 60 

2015 Emissions Estimate

Aga Khan’s 2015 emissions estimate of 28,653 short tons of CO2e was calculated using 

the following information:

Data Value Source

Natural Gas Consumption 13,522,367 m3 Project Sponsor

Conversion Factor 35.31 scf/m3

Emission Factor Natural Gas 0.05444 kg CO2/scf TCR 2015

Conversion Factor 0.001 metric tons/kg

Conversion Factor 1.1023 short tons/metric ton

Emissions = 28,653 short tons of CO2e =

13,563,367 m3 * 35.31 scf * 0.05444 kg CO2 * 10

-3 metric ton * 1.1023 short tons

 m3 scf kg metric ton

2016 Emissions Estimate

Aga Khan’s 2016 emissions estimate of 29,093 short tons of CO2e was calculated using 

the following information:

Data Value Source

Natural Gas Consumption 13,730,110 m3 Project Sponsor

Conversion Factor 35.31 scf/m3

Emission Factor Natural Gas 0.05444 kg CO2/scf TCR 2017

Conversion Factor 0.001 metric tons/kg

Conversion Factor 1.1023 short tons/metric ton

Emissions = 29,093 short tons of CO2e =

13,730,110 m3 * 35.31 scf * 0.05444 kg CO2 * 10

-3 metric ton * 1.1023 short tons

 m3 scf kg metric ton

2017 Emissions Estimate

Aga Khan’s 2017 emissions estimate of 28,312 short tons of CO2e was calculated using 

the following information:

Data Value Source

Natural Gas Consumption 13,146,977 m3 Project Sponsor

Diesel Consumption 150,894 liters Project Sponsor

Emission Factor Natural Gas 0.05444 kg CO2/scf TCR 2017

Emissions Factor Diesel 73.96 kg CO2/MMBtu TCR 2017

Diesel Energy Content 0.14 MMBtu per gallon diesel TCR 2017

Conversion Factor 0.26417 Gallons per liter

Conversion Factor 35.31 scf/m3

Conversion Factor 0.001 metric tons/kg
Page 61 

Data Value Source

Conversion Factor 1.1023 short tons/metric ton

Conversion Factor 0.0011023 short tons/kg

Emissions = 28,312 short tons of CO2e =

13,146,977 m3 * 35.31 scf * 0.05444 kg CO2 * 10

-3 metric ton * 1.1023 short tons +

 m3 scf kg metric ton

150,894 liters * 0.26417 gallons * 0.14 MMBtu * 73.96 kg CO2 * 0.0011023 short tons

 Liter gallon MMBtu kg

Qalaa Holdings (formerly Citadel)

Maximum Potential-to-Emit Estimate

Qalaa Holdings’ project description provided a range of expected emissions. The upper 

end of this range was used as the project’s maximum potential-to-emit

Data Value Source

Direct Emissions 96,000 metric tons Project Description

Conversion Factor 1.1023 short tons/metric ton

Maximum Potential-to-Emit = 105,821 STPY of CO2e =

96,000 metric tons * 1.1023 short tons/metric ton

2012 Emissions Estimate 

Citadel is a private equity firm that invests in multiple platforms. In 2012, the Glenview 

Investment Holdings platform had an estimated carbon footprint estimate of 46,707 short 

tons of CO2e calculated using the following information:

Data Value Source

Natural Gas Consumption 24 million m3 Project Description

Conversion Factor 1,000,000 m3/ million m3

Conversion Factor 35.31 scf/ m3

Natural Gas Emission 

Factor 

0.05 kg CO2/ scf TCR 2013

Conversion Factor 0.001 metric tons/ kg

Conversion Factor 1.1023 short tons/ metric ton
Page 62 

Total emissions estimate = 46,707 short tons of CO2e =

24 million m3* 1,000,000 m3* 35.31 scf * 0.05 kg CO2 * 10

-3 metric ton * 1.1023 short ton

 million m3 m3 scf kg metric ton

2013 Emissions Estimate

In 2013, Citadel changed its name to Qalaa Holdings, a private equity firm that invests 

in multiple platforms. In 2013, three platforms contributed to Qalaal Holdings’ total 

emissions, including Glenview Investment Holdings, United Company for Foundries, 

ASEC Company for Mining, and Falcon for Agricultural Investments Ltd. The 2013 

revised emissions estimate of 52,169 short tons of CO2e was calculated as follows. 

Data Value Source

Natural Gas Consumption 

(Glenview Investment Holdings)

18 million m3 Project 

Description

Natural Gas Consumption

(other platforms)

8.807 million m3 Project Sponsor

Conversion Factor 1,000,000 m3/ million m3

Conversion Factor 35.31 scf/ m3

Natural Gas Emission Factor 0.05 kg CO2/ scf TCR 2013

Conversion Factor 0.001 metric tons/ kg

Conversion Factor 1.1023 short tons/ metric ton

Total emissions estimate = 52,169 short tons of CO2e =

(18 + 8.807) million m3* 1,000,000 m3* 35.31 scf * 0.05 kg CO2 * 10-3 metric ton *

 million m3 m3 scf kg 

1.1023 short ton

 metric ton 

2014 Emissions Estimate

In 2014, four platforms contributed to Qalaal Holdings’ total emissions, including 

Grandview Investment Holdings, United Company for Foundries, ASEC Company for 

Mining, and Falcon for Agricultural Investments Ltd. The 2014 emissions estimate of 

47,437 short tons of CO2e was calculated as follows. 

Data Value Source

Natural Gas Consumption (all 

platforms)

24.376 million m3 Project 

Sponsor

Conversion Factor 1,000,000 m3/ million m3

Conversion Factor 35.31 scf/ m3

Natural Gas Emission Factor 0.05 kg CO2/ scf TCR 2014

Conversion Factor 0.001 metric tons/ kg

Conversion Factor 1.1023 short tons/ metric 

ton
Page 63 

Total emissions estimate = 47,437 short tons of CO2e =

24.376 million m3* 1,000,000 m3* 35.31 scf * 0.05 kg CO2 * 10

-3 metric ton *

 million m3 m3 scf kg 

1.1023 short ton

 metric ton 

2015 Emissions Estimate

In 2015, two platforms contributed to Qalaal Holdings’ total emissions, including 

Grandview Investment Holdings, United Company for Foundries, and ASEC Company 

for Mining. The 2015 emissions estimate of 34,279 short tons of CO2e was calculated 

as follows. 

Data Value Source

Natural Gas Consumption (all 

platforms)

17.614 million m3 Project 

Sponsor

Conversion Factor 1,000,000 m3/ million m3

Conversion Factor 35.31 scf/ m3

Natural Gas Emission Factor 0.05 kg CO2/ scf TCR 2014

Conversion Factor 0.001 metric tons/ kg

Conversion Factor 1.1023 short tons/ metric ton

Total emissions estimate = 34,279 short tons of CO2e =

17.614 million m3* 1,000,000 m3* 35.31 scf * 0.05 kg CO2 * 10

-3 metric ton * 

 million m3 m3 scf kg

1.1023 short ton

 metric ton

2016 Emissions Estimate

In 2016, emissions from Qalaal Holdings fell below the 25,000 CO2 threshold. The 2016

emissions estimate of 7,194 short tons of CO2e was calculated as follows. 

Data Value Source

Natural Gas Consumption (all 

platforms)

3.6966 million m3 Project 

Sponsor

Conversion Factor 1,000,000 m3/ million m3

Conversion Factor 35.31 scf/ m3

Natural Gas Emission Factor 0.05 kg CO2/ scf TCR 2014

Conversion Factor 0.001 metric tons/ kg

Conversion Factor 1.1023 short tons/ metric ton
Page 64 

Total emissions estimate = 7,194 short tons of CO2e =

3.6966 million m3* 1,000,000 m3* 35.31 scf * 0.05 kg CO2 * 10

-3 metric ton * 

 million m3 m3 scf kg

1.1023 short ton

 metric ton

2017 Emissions Estimate

In 2017, emissions from Qalaal Holdings fell below the 25,000 CO2 threshold. The 2017

emissions estimate of 12,025 short tons of CO2e was calculated as follows. 

Data Value Source

Natural Gas Consumption (all 

platforms)

6,178,895.16 m3 Project 

Sponsor

Conversion Factor 35.31 scf/ m3

Natural Gas Emission Factor 0.05 kg CO2/ scf TCR 2014

Conversion Factor 0.001 metric tons/ kg

Total emissions estimate = 12,025 short tons of CO2e =

6,178,895.16 million m3* 35.31 scf * 0.05 kg CO2 * 10

-3 metric ton * 1.1023 short ton

 m3 scf kg metric ton

The project falls below the reporting threshold of 25,000 tons in 2017. 

University of Central Asia

Maximum Potential-to-Emit Estimate

University of Central Asia’s project description provided the project’s maximum potentialto-emit estimate.

Data Value Source

Direct Emissions 35,000 metric tons Project Description

Conversion Factor 1.1023 short tons/metric ton

Maximum Potential-to-Emit = 38,581 STPY of CO2e =

35,000 metric tons * 1.1023 short tons/metric ton

2017 Emissions Estimate 

In 2017, the University of Central Asia had an estimated carbon footprint estimate of 3.1

short tons of CO2e, which falls below the OPIC reporting threshold. These emissions 

were calculated using the following information:
Page 65 

Data Value Source

Diesel Consumption (combined 

2017 and 2018)

1,016 liters Project Sponsor

Emissions Factor Diesel 73.96 kg CO2/MMBtu TCR 2017

Diesel Energy Content 0.14 MMBtu per gallon diesel TCR 2017

Conversion Factor 0.26417 Gallons per liter

Conversion Factor 0.001 metric tons/kg

Conversion Factor 1.1023 short tons/metric ton

Conversion Factor 0.0011023 short tons/kg

Emissions = 3.1 short tons of CO2e =

1,016 liters * 0.26417 gallons * 0.14 MMBtu * 73.96 kg CO2 * 0.0011023 short tons

 Liter gallon MMBtu kg
Page 66 

APPENDIX C – COMMON CONVERSIONS

Listed below are common emission and conversions factors used in the development of 

emission estimates. 

UNIT CONVERSION

Value Unit of Measure Source

8,000 Hours per Year Conservative Operating Assumption – EIA Form 923, 2007

333 Days per Year Calculated from Hours per Year

1,000,000 Btu per MMBtu TCR 2008

0.001 metric tons per kg TCR 2008

0.0011023 short tons per kg TCR 2008

1,000,000 scf per Mcf TCR 2008

0.02832 m3 per scf TCR 2008

0.9072 metric tons per short ton TCR 2008

0.000001 metric tons per g TCR 2008

0.0000011023 short tons per g TCR 2008

907.18 kg per short ton TCR 2008

2.2046 lbs per kg TCR 2008

2,204.62 lbs per metric tonne TCR 2008

2,000 lbs per short ton TCR 2008

42 gallons per barrel TCR 2008

HEAT CONTENT

Value Unit of Measure Source

43 TJ/Gg HFO Gross Calorific Value National Physical Laboratory, 2015

44 TJ/Gg LFO Gross Calorific Value National Physical Laboratory, 2015

5.796 MMBtu per barrel diesel (fuel oil #2) TCR 2013, TCR 2014

17.25 MMBtu per short ton coal (sub-bituminous) TCR 2008

5.80 MMBtu per barrel diesel (fuel oil #2) TCR 2013, TCR 2014

5.80 MMBtu per barrel crude oil TCR 2013, TCR 2014

1,028 Btu per scf natural gas (U.S. weighted average) TCR 2013, TCR 2014

1,026 Btu per scf natural gas (U.S. weighted average) TCR 2015

EMISSION FACTORS FOR ELECTRICITY GENERATION

Value Unit of Measure Source

901 g CO2 per kWh generated using coal IFC 2012

666 g CO2 per kWh generated using oil IFC 2012

390 g CO2 per kWh generated using natural gas IFC 2012
Page 67 

EMISSION FACTORS FOR FUEL COMBUSTION

Value Unit of Measure Source

53.02 kg CO2 per MMBtu natural gas TCR 2013, TCR 2014, TCR 2015

53.06 kg CO2 per MMBtu natural gas TCR 2015, TCR 2017

72.22 kg CO2 per MMBtu kerosene type jet fuel TCR 2017

52.91 kg CO2 per MMBtu natural gas (Btu/scf 1,000-1,025) TCR 2013, TCR 2014, TCR 2015

73.96 kg CO2 per MMBtu diesel (fuel oil #2) TCR 2013, TCR 2014, TCR 2015, 

TCR 2017

97.09 kg CO2 per MMBtu coal (sub-bituminous) TCR 2008

74.49 kg CO2 per MMBtu crude oil TCR 2013

0.0544 kg CO2 per scf natural gas TCR 2013, TCR 2014, TCR 2015, 

TCR 2017

75.1 kg CO2 per MMBtu Residual Fuel Oil (#6) TCR 2014, TCR 2015, TCR 2017

2098.89 kg CO2 per short ton coal (mixed industrial sector) TCR 2013, TCR 2014

2115.8745 kg CO2 per short ton coal (mixed industrial sector) TCR 2017

77,400 kg CO2 per TJ Residual Oil – Heavy Fuel Oil IPCC, 2006. 

74,100 kg CO2 per TJ Residual Oil – Light Fuel Oil IPCC, 2006. 

EMISSION FACTORS FOR INDUSTRIAL PROCESSES

Value Unit of Measure Source

0.44 Short tons CO2 per short ton limestone processed IPCC 2006
 Page 68 

APPENDIX D – ANNOTATED BIBLIOGRAPHY

Amnesty International 2013. "Amnesty International: News." Israel/OPT: Gaza Power 

Crisis Has Compounded Blockade's Assault on Human Dignity. 1 Dec. 2013. Accessed 

February 2015. <http://www.amnesty.org/en/news/israelopt-gaza-power-crisis-hascompounded-blockade-s-assault-human-dignity-2013-11-29>.

API 2004 (American Petroleum Institute). Compendium of Greenhouse Gas Emissions 

Methodologies for the Oil and Gas Industry. February 2004. Accessed January 2008.

<http://www.api.org/ehs/climate/new/upload/2004_COMPENDIUM.pdf>

Examples from API were used for those projects in Tier B [Accroven SRL, Various 

Egypt Subsidiaries (Apache), EP Interoil, RPK-Vysotsk (Lukoil II)] for which there 

were no consumption volumes or other data to base an emissions estimate on. 

The size of operations for these examples was compared to the size of the projects 

in Tier B, resulting in a multiplication factor which was applied to the API example’s 

emissions estimate to arrive at an approximate estimate for the Tier B project. 

Additionally, a methane-fugitive emissions factor for compression, sourced from 

the API Compendium of Greenhouse Gas Emissions, Table 6-5, was used for the 

Wilpro Energy Services projects. 

API 2009 (American Petroleum Institute). Compendium of Greenhouse Gas Emissions 

Methodologies for the Oil and Gas Industry. August 2009.

SAR. Second Assessment Report. Climate Change 1995, The Science of Climate 

Change: Summary for Policymakers and Technical Summary of the Working Group I 

Report, page 22.

EIA 2008. Energy Information Administration (EIA) U.S. Natural Gas Consumption by 

End Use. 2003-2007. Accessed January 2008.

<http://tonto.eia.doe.gov/dnav/ng/ng_cons_sum_dcu_nus_a.htm>

Emissions from natural pipeline transport are very segment specific, varying by

pipeline infrastructure, compression energy source, and segment distance. In 

order to define the related emissions for representative pipeline hauls in the 

absence of system specifications, Pace Global assumed pipeline-fuel 

consumption and both combustion and non-combustion CO2e emissions, based on 

EIA natural gas consumption data and data from the U.S. GHG Inventory released 

by EPA in 2008. This data yielded an average fugitive-emission-loss rate of 1.7%

(per unit volume), and fugitive emissions factor of 4,297 lbs of CO2 per mmscfd. 

The emissions associated with combustion required to move natural gas were

calculated to be 3,439 lbs of CO2 per MMscd. 

EIA 2013. Voluntary Reporting of Greenhouse Gas Coefficients. Voluntary Reporting of 

Greenhouse Gases Program (Voluntary Reporting of Greenhouse Gases Program Fuel 

Carbon Dioxide Emission Coefficients). January 2013. Accessed January 2013.
 Page 69 

EPA 1985. United States Environmental Protection Agency (EPA). AP 42: Compilation of 

Air Pollutant Emission Factors, Volume 1 Stationary Point and Area Sources. Appendix 

A: Miscellaneous Data & Conversion Factors. September 1985. Accessed January 2008. 

<http://www.epa.gov/ttn/chief/ap42/>

Conversion factors not provided by The Climate Registry were obtained from U.S. 

EPA’s AP 42 document, specifically for the density of natural gas and crude oil and 

the conversion of kilometers to miles.

EPA 2008. United States Environmental Protection Agency (EPA). Inventory of U.S. GHG 

Emissions and Sinks, 1990-2006. Tables 3-34 and 3-36. Accessed January 2008. 

<http://www.epa.gov/climatechange/emissions/downloads/08_CR.pdf>

Emissions from natural-gas-pipeline transport are very segment specific, and vary 

according to pipeline infrastructure, compression-energy source, and segment 

distance. In order to define the related emissions for representative pipeline hauls 

in the absence of system specifications, Pace Global assumed pipeline-fuel 

consumption and both combustion and non-combustion CO2e emissions based on 

EIA natural gas consumption data and data from the U.S. GHG Inventory, released 

by EPA in 2008. This data yielded an average fugitive emission loss rate of 1.7%

(per unit volume), and fugitive emissions factor of 4,297 lbs of CO2 per mmscfd. 

The emissions associated with combustion required to move natural gas was 

calculated to be 3,439 lbs of CO2 per MMscd. 

GREET. The Greenhouse Gases, Regulated Emissions, and Energy Use In 

Transportation Model, GREET 1.8d.1, developed by Argonne National Laboratory, 

Argonne, IL, released August 26, 2010.

Herrington, E.F.G. "Calorific Values of Solid, Liquid and Gaseous Fuels 

3.11.4." National Physical Laboratory. 1 Jan. 2015. Web. 1 Feb. 2015. <

http://www.kayelaby.npl.co.uk/chemistry/3_11/3_11_4.html

IEA 2008a. International Energy Agency. Coal in Indonesia in 2006, accessed January 

2008. <http://www.iea.org/Textbase/stats/coaldata.asp?COUNTRY_CODE=ID> 

The coal profile for Indonesia in 2006 specifies the type of coal consumed and 

what it was combusted for. The table provided by IEA describes the volume of coal 

used in electricity plants as being 100% sub-bituminous. This information was 

necessary to calculate the emissions for Paiton Energy as each coal type has a 

different emissions factor and heat-content value. 

IEA 2008b. International Energy Agency. Coal in Morocco in 2006. Accessed January 

2008. <http://www.iea.org/Textbase/stats/coaldata.asp?COUNTRY_CODE=MA> 
 Page 70 

The coal profile for Morocco in 2006 specifies the type of coal consumed and what 

it was combusted for. The table provided by IEA describes the volume of coal used 

in electricity plants as being 100% bituminous. This information was necessary to 

calculate the emissions for Jorf Lasfar Energy as each coal type has a different 

emissions factor and heat-content value. 

IFC 2008. International Finance Corporation (IFC). Guidance Note 3: Pollution Prevention 

and Abatement. July 31, 2007. Accessed January 2008.

<http://www.ifc.org/ifcext/sustainability.nsf/Content/GuidanceNotes> 

This guidance note by the IFC provides suggested GHG emissions estimation 

methodologies for the energy and industrial sectors. The table in Annex A provides 

the capacity for electric-generating technologies (oil = 25MW, coal = 18MW, gas = 

41MW) that would emit 100,000 metric tons of CO2e per year. The table also 

provides the emissions factor that was applied to the electric generation projects 

for which no throughput or consumption volumes were available. 

IFC 2012. International Finance Corporation (IFC). Guidance Note 3: Resource 

Efficiency and Pollution Prevention. January 1, 2012.

IPCC 2006. 2006 IPCC Guidelines for National Greenhouse Gas Inventories, Prepared 

by the National Greenhouse Gas Inventories Programme, Eggleston H.S., Buendia L., 

Miwa K., Ngara T. and Tanabe K. (eds). Published: IGES, Japan. 

Nye Thermodynamics Corporation. Gas Turbine Specifications by Manufacturer. Nuovo 

Pignone turbine specifications. Accessed January 2008. 

<http://www.gas-turbines.com/specs/manuf.htm>

The project descriptions for Wilpro Energy Services (Pigap) and Wilpro Energy 

Services (El Furrial) indicate that the compression if driven by Nuovo Pignone Gas 

Turbines. Pace estimated energy requirements from compression levels depicted 

for each project and consulted specifications of the appropriately sized Nuovo 

Pignone gas turbines. Efficiency and other specifications of these turbines were 

collected from the Nye Thermodynamics Corporation website documenting gas 

turbine specifications by manufacturer. 

OPIC 2007. Overseas Private Investment Corporation (OPIC). 2007 Greenhouse Gas 

Emissions Inventory Report. March 2009. 

<http://www.opic.gov/doing-business-us/OPIC-policies/greenhouse-gas-accountingreports>

OPIC 2008. Overseas Private Investment Corporation (OPIC). 2008 Greenhouse Gas 

Emissions Inventory Report. May 2010. 

<http://www.opic.gov/doing-business-us/OPIC-policies/greenhouse-gas-accountingreports>
 Page 71 

OPIC 2009. Overseas Private Investment Corporation (OPIC). 2009 Greenhouse Gas 

Emissions Inventory Report. May 2011. 

<http://www.opic.gov/doing-business-us/OPIC-policies/greenhouse-gas-accountingreports>

OPIC 2010. Overseas Private Investment Corporation (OPIC). 2010 Greenhouse Gas 

Emissions Inventory Report. April 2012. 

<http://www.opic.gov/doing-business-us/OPIC-policies/greenhouse-gas-accountingreports>

OPIC 2011. Overseas Private Investment Corporation (OPIC). 2011 Greenhouse Gas 

Emissions Inventory Report. June 2013. 

<http://www.opic.gov/doing-business-us/OPIC-policies/greenhouse-gas-accountingreports>

Oil and Gas Journal. “Special Report: Worldwide Ethylene Capacity Increases 2 Million 

TPY in 2007,” Volume 106, July 28, 2008.

No information was provided in the project description for the Equate 

Petrochemical project indicating its size or energy consumption. The average size 

of petrochemical facilities in the Middle East, of ~850,000 tons per year, was 

sourced from the Oil and Gas Journal. Specific energy requirements and 

generation sources expected from a petrochemical facility of this size were 

sourced from the CEC report. This data enabled the qualified estimation of 

emissions from this project. 

TAPSEIS. Trans-Alaska Pipeline System Environmental Impact Statement 

(TAPSEI).Trans-Alaska Pipeline Environmental Impact Statement Document, Energy 

Requirements for Conservation Potential. February 15, 2001. Accessed January 2008.

<http://tapseis.anl.gov/documents/docs/Section_4_9_May2.pdf>

Energy-demand factors for crude-pipeline transport were sourced from documents 

associated with the Environmental Impact Statement for the Trans Alaska Gas 

pipeline in order to calculate GHG emissions for the Baku-Tblisi-Ceyhan Pipeline. 

TCR 2008. The Climate Registry (TCR). General Reporting Protocol Version 1.1. May 

2008. Accessed January 2008. <http://www.theclimateregistry.org/downloads/GRP.pdf> 

The Climate Registry is the broadest-reaching registry in North America with 

participation from all Canadian provinces, six Mexican states, and 40 U.S. states. 

The Climate Registry’s General Reporting Protocol is based on the WRI/WBCSD 

GHG Protocol, the “gold” standard in GHG Accounting and Reporting. Emission, 

heat content, and conversion factors from this document were used in the analysis 

(Table 12.1 and Appendix C). 
 Page 72 

TCR 2013. The Climate Registry (TCR). 2013 Climate Registry Default Emissions 

Factors. January 2013. Accessed March 2014.

<http://www.theclimateregistry.org/resources/protocols/general-reporting-protocol/>

TCR 2014. The Climate Registry (TCR). 2014 Climate Registry Default Emissions 

Factors. April 2014. Accessed February 2015. 

<http://theclimateregistry.org/wp-content/uploads/2015/01/2014-Climate-RegistryDefault-Emissions-Factors.pdf>

TCR 2015. The Climate Registry (TCR). 2015 Climate Registry Default Emissions 

Factors. April 2015.

TCR 2017. The Climate Registry (TCR). 2015 Climate Registry Default Emissions 

Factors. March 2017.