2.2. Antecedentes de Investigación
2.2.2. Adaptación
2.2.2.2. Adaptación personal
PROJ EC T DATA BA SE
A PPE N D I X A
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The World Bank and PPIAF Private Participation in Infrastructure (PPI) Project database is divided into sectors as follows:
• Energy (electricity and natural gas) • Telecommunications
• Transport (airports, seaports, railways, and toll roads) • Water and sewerage (treatment plants and utilities).
It does not include social infrastructure projects and therefore excludes most private finance initiative (PFI models) PPPs (see chapter 2). Within these four sectors, the database identifies four types of projects: management and lease contracts, concessions, greenfield projects, and divestitures.
Management and Lease Contracts
In management and lease contracts, a private entity takes over the manage- ment of a state-owned enterprise for a fixed period, while ownership and investment decisions remain with the state. There are two subclasses of man- agement and lease contracts:
• Management contract. The government pays a private operator to man-
150 How to Engage with the Private Sector in Public-Private Partnerships in Emerging Markets
• Lease contract. The government leases the assets to a private operator for
a fee, while the private operator takes on the operational risk.
These contracts share some, but not all, of the characteristics of public- private partnerships (PPPs) as defined in this guide.
Concessions
In concessions, a private entity takes over the management of a state-owned enterprise for a given period, during which it assumes significant invest- ment risk. The database classifies concessions according to the following categories:
• Rehabilitate, operate, and transfer (ROT). A private sponsor rehabilitates
an existing facility and then operates and maintains the facility at its own risk for the contract period.
• Rehabilitate, lease or rent, and transfer (RLT). A private sponsor rehabili-
tates an existing facility at its own risk, leases or rents the facility from the government owner, and then operates and maintains the facility at its own risk for the contract period.
• Build, rehabilitate, operate, and transfer (BROT). A private developer
builds an add-on to an existing facility or completes a partially built facil- ity, rehabilitates existing assets, and then operates and maintains the facil- ity at its own risk for the contract period.
All of these would be concession PPPs as defined in this guide.
Greenfield Projects
In greenfield projects, a private entity or a public-private joint venture builds and operates a new facility. If there is a contract, the facility may, or may not, be transferred to the public sector at the end of the contract period. The database identifies five types of greenfield projects:
• Build, lease, and transfer (BLT). A private sponsor builds a new facility
largely at its own risk, transfers ownership to the government, leases the facility from the government, and operates the facility at its own risk up to the expiration of the lease. The government usually provides revenue guarantees through long-term take-or-pay contracts for bulk supply facili- ties or minimum-traffic revenue guarantees.
• Build, operate, and transfer (BOT). A private sponsor builds a new facil-
ity at its own risk, operates the facility at its own risk, and then transfers the facility to the government at the end of the contract period. The
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private sponsor may or may not own the assets during the contract period. The government usually provides revenue guarantees through long-term take-or-pay contracts for bulk supply facilities or provides minimum-traffic revenue.
• Build, own, and operate (BOO). A private sponsor builds a new facility
at its own risk and then owns and operates the facility at its own risk. The government usually provides revenue guarantees through long-term take-or-pay contracts for bulk supply facilities or minimum-traffic revenue guarantees.
• Merchant. A private sponsor builds a new facility in a liberalized market
in which the government provides no revenue guarantees. The private developer assumes construction, operating, and market risk for the proj- ect (for example, a merchant power plant).
• Rental. Electricity utilities or governments rent mobile power plants from
private sponsors for periods ranging from one to 15 years. A private sponsor places a new facility at its own risk and owns and operates the facility at its own risk during the contract period. The government usually provides revenue guarantees through short-term purchase agreements such as a power purchase agreement for bulk supply facilities.
The first two of these subcategories would be PPPs as defined in this guide. In addition, even though the third one, build, own, and operate (BOO), is not strictly speaking a PPP, the content of this guide is relevant, because the procedures to select, prepare, and bid this type of arrangement are similar to what is discussed in the guide.
Divestitures
In divestitures a private entity buys an equity stake in a state-owned enter- prise through an asset sale, public offering, or mass privatization program. The database identifies two types of divestitures:
• Full. The government transfers 100 percent of the equity in the state-
owned company to private entities (operator, institutional investors, and the like).
• Partial. The government transfers part of the equity in the state-owned
company to private entities (operator, institutional investors, and the like). The private stake may or may not imply private management of the facility.
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