The Asian Development Bank (ADB) sought a consultant to evaluate the performance of the Talimarjan Power Plant project and prepare a project completion report (PCR). ADB approved USD 350 million in loans in 2009 for the construction of two 450 MW combined cycle gas turbine power units in Talimarjan to improve energy security, facilitate regional energy trade, increase energy efficiency, and save energy through clean power generation. ADB wanted to (1) assess the performance of the projects using the criteria of relevance, effectiveness, efficiency, sustainability and impact; (2) identify lessons that should be taken into account in future operations; and (3) provide recommendations to improve the results from the project. ADB also wanted to conduct a financial and economic reevaluation of the project.
DHInfrastructure reviewed project documents from the approval stage and during implementation of the project, met with stakeholders to collect information and discuss critical lessons and recommendations, and revised and finalized the draft PCR. We evaluated the adequacy of the project's preparation, design, appraisal, and implementation arrangements, and the performance of the borrower, Uzbekenergo (the executing agency) , and ADB. We also assessed the performance of consultants, contractors, and suppliers with respect to services, procurement, supply, delivery, construction, and installation. We conducted a financial reevaluation (including calculation of the financial internal rate of return and weighted average cost of capital) and economic reevaluation (including calculation of the economic internal rate of return) of the project to assess the efficiency of the investment. We evaluated the project's initial operation, and its achievement and sustainability of benefits, as well as the extent of the project's achievement of project outcomes, and their contribution to achieving expected impacts and the likelihood that human, technical, and financial resources are sufficient to maintain the outcomes over the life of the project.