BANGLADESH POWER DEVELOPMENT BOARD - BPDB

1.4.5 Failure to comply with any of the requirements set forth in this
Section 1.4 may result in the disqualification and withdrawal by
BPDB of the consortium Applicant’s pre-qualified status and its right
to submit a bid/proposal.
2. Financial Criteria
2.1 The Applicant (or, in the case of a consortium Applicant, the Lead
Member) shall include the following information in its Qualification
Statement:
2.1.1 One or two private power generation projects in respect of which it
has successfully raised equity financing of at least US$ 50 million
in the aggregate in the past fifteen years; and
2.1.2 One or two private power generation project in respect of which it
has successfully raised debt financing of at least US$ 150 million in
the aggregate in the past fifteen years.
2.2 The Applicant (or, in the case of a consortium Applicant, each Member of
the consortium) should also provide the following financial information
in the manner prescribed in the Qualification Statement Form:
2.2.1 Certified copies of its audited balance sheets for each of immediately
preceding three fiscal years, which should be prepared in
accordance with IAS or GAAP and demonstrate the following:
• Profitability in two of the last 3 fiscal years; and
• A Current Ratio (i.e., current assets divided by
current liabilities) for each of the last 3 fiscal years of
no less than 1:1;
provided, that, if one Member of a consortium Applicant that holds
and will hold less than 5% of the equity interest in the consortium
and in the project company vehicle cannot satisfy the financial
requirements in this Section 2.2 (a 'Weak Member'), the
consortium Applicant may nonetheless satisfy the pre-qualification
criteria required herein by delivering as a part of the Pre-
Qualification Statement an Undertaking of the Lead Member
and/or the Operating Member (or a combination of them)
addressed to BPDB undertaking and agreeing that the Lead
Member and/or the Operating Member, as the case may be, shall
invest the equity of the Member who cannot satisfy the financial
test in this Section 2.2.1 to ensure the required equity investment
for the Project if such Member is not able to provide all or any part
of its equity commitment, a breach of which Undertaking shall
constitute a “Company Event of Default” under Implementation
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