Bios

Vincent S. Pérez, Jr

Vincent S. Pérez is the Secretary of the Department of Energy (DOE), Philippines. He is also the Ex-Officio Chairman of the Philippine National Oil Company (PNOC) and the National Electrification Authority (NEA). Prior to his appointment, he served as the Undersecretary of the Industry and Investments Group of the Department of Trade and Industry, and the Vice-Chairman and Managing Head of the Board of Investments.

Prior to joining the government in March 2001, Mr. Pérez has over 18 years experience in private equity and capital markets and emerging markets. He was an international officer at Mellon Bank, N.A. in Pittsburgh from 1983 to 1986 in its Latin American restructuring group. Previously, he had internships with New Jersey National Bank, Citibank N.A. and Far East Bank and Trust Co.

Mr. Pérez pioneered Lazard Freres & Co.'s emerging markets team in New York where he arranged numerous debt and equity financing in Argentina, Brazil, India, Indonesia, Mexico, Philippines and Turkey. Until he resigned in 1996, he worked as Managing Director of Lazard Asia and a General Partner of Lazard Freres & Co. in New York.

Mr. Pérez co-founded Next Century Partners in 1996, a private equity firm that focused on investing in Asia. He has been actively involved in bringing prominent foreign investors into the Philippines.

Mr. Pérez holds an MBA from the Wharton Business School of the University of Pennsylvania and a Bachelor's Degree in Business Economics from the University of the Philippines. In 1994, he was named as one of the Top 100 Emerging Market Superstars by Global Finance magazine. He has the distinction of being the first Asian partner at Lazard and the first Filipino partner on Wall Street.

SPEAKERS

Rafael V. Dominguez

Rafael V. Dominguez is senior evaluation officer in the Operations Evaluation Group {OEG) at the International Finance Corporation (IFC). He was the Task Manager for IFC in the evaluation of the World Bank Group (WBG) experience in Private Sector Development in the Electric Power Sector. He is currently the IFC Task Manager for the evaluation of the WBG's activities in investment climate. He has participated in other World Bank Group thematic evaluations in different sectors including information infrastructure and forestry. Prior to evaluation, he was involved in project finance in IFC's investment operations in the Asia region.

Fernando Manibog

Fernando Manibog, Lead Evaluation Officer and Acting Energy Coordinator at the Independent Evaluation Group (IEG), has been with the World Bank since 1980. At the IEG Mr. Manibog conducts evaluation studies related to energy and the environment, and is the Team leader and co-Task Manager for the joint IEG , OEG and OEU study to evaluate private sector development in the electric power sector (the subject of this workshop). Previously, he has worked on investment and advisory assignments in the Africa, South Asia, East Asia and Latin America regions of the Bank, as Principal Environmental Specialist, Senior Energy Economist and Renewable Energy Specialist. He has a Ph.D. in Energy and Resources from the University of California, Berkeley, an M.A. in International Relations from the Johns Hopkins University's School of Advanced International Studies, and a BA in Education and BS in Asian Studies from De La Salle University in the Philippines.

Gary Stuggins

Gary Stuggins, a Lead Energy Economist, joined the World Bank in 1989. He currently works in the Energy and Water Department of the Bank, as part of the Energy Anchor Unit, on corporate energy strategy issues. In his first couple of years at the Bank, Mr. Stuggins led power and gas projects in Egypt, Jordan and Iran. Between 1992 and 1998, Mr. Stuggins worked on energy and environment issues in Russia, including on power, energy efficiency, greenhouse gas reduction, gas distribution, and district heating projects. From 1998 to 2002, he led energy sector work in the Baltics and the energy sector reforms in Serbia and Montenegro. Before joining the World Bank, Mr. Stuggins worked at the Asian Development Bank on power projects in Pakistan, India, Nepal and Sri Lanka. He is the author of several power sector studies, primarily in the area of power sector reforms. Prior to the ADB, he worked at a consulting firm focusing on both energy and environmental projects. He also worked for a few years at a power utility on nuclear and thermal power projects.

SESSION 1

Chair

Alain Barbu

Alain A. Barbu, Manager of the Sector and Thematic Evaluation Group of the Independent Evaluation Group (IEGST), has been with the World Bank since 1976. As Manager of IEGST, Mr. Barbu is responsible for evaluations of the World Bank's effectiveness in the energy, infrastructure, rural and social sectors. Prior to joining IEG , Mr. Barbu worked for many years on energy projects in the Latin America, Sub-Saharan Africa and North Africa regions of the Bank, as a Principal Financial Analyst. He graduated from Ecole des Hauted Etudes Commerciales (HEC) in France and holds an MBA degree from the University of Pennsylvania (Wharton).

Panelists

Robert Bestani

Robert Bestani is the Director General of the Private Sector Finance Department at the Asia Development Bank. Immediately prior to joining the ADB, he was a Managing Director and Senior Consultant at PricewaterhouseCoopers, LLP.

For most of his career, he has been in International Banking and Corporate Finance, working at Citibank, Texaco, Bank of America, and Duke Energy. Bob has long been associated with the High Tech, Petroleum/Oil & Gas and Power Industries. Among other transactions, he has worked on numerous project and other structured financings, joint ventures, co-generation plants, merchant power plants, etc.. He also has extensive experience in mergers and acquisitions, divestitures, asset securitization, private placements, investment grade and high yield debt, syndications, etc..

Bob also served in the Bush Administration as Deputy Assistant Secretary for International Monetary Affairs at the U.S. Department of the Treasury. His principal responsibilities included: the G-7 negotiations and the Paris and Houston Presidential Summit Meetings, several international trade and financial services negotiations with Japan and Korea, US-IMF policy coordination, the management of America's $40 billion foreign currency reserve position, policy coordination with Federal Reserve Board, etc..

Bob has also repeatedly worked as a financial consultant to the People's Republic of China and is a member of the Council on Foreign Relations.

Bob holds a Finance and International Business MBA from the University of Chicago.

Navroz Dubash

Navroz K. Dubash will shortly join the National Institute of Public Finance and Policy (NIPFP) in New Delhi, India as a Senior Fellow (effective November 10, 2003). Until recently, he was a Senior Associate at the Institutions and Governance Program at the World Resources Institute (WRI), where he managed a program to examine patterns of international financial flows and their social and environmental outcomes. While at WRI, he authored and edited several publications including: Power Politics: Equity and Environment in Electricity Reform; A Watershed in Global Governance: An Independent Assessment of the World Commission on Dams; The Right Conditions: The World Bank, Structural Adjustment and Forest Policy Reform; and Leverage for the Environment: A Guide to the Private Financial Services Industry. He has also authored numerous shorter papers.

Prior to joining WRI, he worked with the Environmental Defense Fund, and was international coordinator of the Climate Action Network. His past research has included work on development assistance and carbon emissions trading. In India, he has studied local institutions for management of groundwater, and his book, Tubewell Capitalism: Groundwater Development and Agrarian Change in Gujarat was published by Oxford University Press in 2002. He holds a Ph.D. and a Masters degree in Energy and Resources from the University of California, Berkeley, and a Bachelors degree in Public and International Affairs from Princeton University.

Anton Eberhard

Anton Eberhard is a Professor of the Graduate School of Business, University of Cape Town, South Africa. Professor Eberhard teaches executive courses in the management of reform and regulation of infrastructure industries in Africa. He also teaches a Masters programme in Energy Markets and Governance. His main focus has been on the restructuring of the electricity supply industry and the creation of new electricity markets and regulatory frameworks to advance economic, social and environmental objectives. He is on the Board of the National Electricity Regulator of South Africa.

Prof. Eberhard has initiated and directed a plethora of energy research projects over the past 20 years and is the author of more than 70 research publications. He founded and directed the Energy and Development Research Centre at the University of Cape Town between 1989 and 1999. He is a Foundation Member of the South African Academy of Science and serves on numerous Councils and Boards. He is President of the International Energy Initiative and an Editorial Board Member of the International Journal of Economic Regulation and Governance.

Jagdish Sagar

Jagdish Sagar was the Chairman of the Delhi Vidyut (Electricity) Board (DVB), from April 1999 until its unbundling and partial privatisation, when two of India's private power utilities, BSES and Tata Power, took over respectively two and one of the three distribution companies carved out of DVB from the 1st of July 2002.

Currently, Mr. Sagar is the Principal Secretary (Power) in the Government of the National Capital Territory of Delhi, as well as Chairman and Managing Director of two residual Government companies (holding company and transmission company) and Chairman of the two Government generating companies. Mr. Sagar also served as Principal Secretary of the Government of the National Capital Territory of Delhi from March 1993 until February 1997, and played a key role in the conversion of the municipal Delhi Electric Supply Undertaking into the Delhi Vidyut Board (removal from the purview of the Municipal Corporation being a necessary preliminary step to facilitate further reform). Mr. Sagar considers his role in this reform process and privatisation of what had been the country's largest purely urban electric utility to be his greatest achievement (so far).

Mr. Sagar has also served in many other prominent positions in the Indian civil service, including as Advisor to the Administrator of Chandigarh, Joint Secretary of the Ministry of Human Resource Development, Government of India, as well as in a variety of capacities in different Union Territories dealing mostly with, amongst other things, law and order administration; tax administration; personnel administration; development administration and planning including responsibility for the power sector; and judicial and quasi-judicial work.

Chang Ching Yu

Chang Ching Yu is an Evaluation Specialist at the Independent Evaluation Group of the Asian Development Bank, a position he has held since he joined the ADB in June 2000. Most recently, Dr. Yu led the sector assistance program evaluation of ADB's assistance to the Bangladeshi power sector over the last thirty years. Whilst at the ADB, Dr. Yu was also the principal author of Powering Economic Development and Reducing Poverty with Energy published in 2002 as part of the ADB's Assessing Development Impact Series. Before joining the ADB, Dr. Yu worked as Regional Manager/Director for International Development at Environmental Resources Management in China, a Research Associate and Project Administrator at the Division of Engineering and Applied Sciences at Harvard University, as well as a consultant for a range of organizations, including the ADB and the World Bank. His country experience includes China, the Philippines, India, Indonesia, Nepal, Pakistan and Thailand.

Dr. Yu received his Bachelors from the Department of Geography at Beijing University, and his Masters and Doctorate from the Department of Geography and Regional Planning at the University of Toronto, Canada, and has served as a Post-Doctoral Fellow at the Division of Engineering and Applied Sciences at Harvard University. Dr. Yu is a Canadian national.

SESSION 2

Chair

Fernando Roxas

Fernando Roxas' involvement with the Power Sector spans 25 years. 22 years of those were with the National Power Corporation (NPC) where his assignments started from Engineering Projects to Heading the Strategic Planning function of NPC's CORPLAN. In his last 7 years with NPC, Dr. Roxas headed the Privatization and Restructuring External Office (PREO) - the office which worked with 3 Congresses, 4 DOE Secretaries and 4 Presidents of NPC, in finalizing the landmark Republic Act 9136 or the Electric Power Industry Restructuring Act.

After retiring from NPC in year 2000, Dr. Roxas became Technical Advisor to the DOE and assisted in the finalization of the Implementing Rules and Regulations of the new law. In 2001, Dr. Roxas became Technical Advisor to the Energy Regulatory Commission where he assisted the newly formed regulatory body in drafting policy guidelines required by RA 9136.

In 2002, Dr. Roxas joined the Asian Institute of Management (AIM) as full time faculty, where he teaches and does research for the Washington Sycip Graduate School of Business. Dr. Roxas handles courses in Operations Management and Asian Business Systems in the graduate program. Dr. Roxas maintains a wide range of consulting practice, counting as clients several multilateral, bilateral and private sector entities.

Dr. Roxas has a Bachelor of Science degree major in geology from the University of the Philippines. He also earned a Master's degree in engineering geology from the Asian Institute of Technology in Bangkok and an MBA from AIM. He also completed a Doctorate in Business Administration (High Distinction) from De La Salle University in Manila.

Panelists

Piyasvasti Amranand

Piyasvasti Amranand has since April 2003 been the Chairman of Kasikorn Asset Management (K-Asset) in Thailand. K-Asset is currently the largest investment fund in Thailand with assets under its management of about 150 billion baht.

Before joining K-Asset, Dr. Amranand served in many prominent positions in the civil service in Thailand, as Secretary General of the National Policy Energy Office (NEPO), Inspector General of the Office of the Prime Minister, Director General of Public Relations Department, and most recently as Deputy Permanent Secretary of the Office of the Prime Minister. As Secretary General of NEPO, a position he held for more than 7 years, Dr. Amranand spearheaded the reform and privatization process of the Thai electricity and energy sector, and was responsible for, amongst other things, the work behind the Energy Conservation Act as well as a number of energy related legislations.

Dr. Amranand has a Bachelor of Arts in Mathematics from Oxford, and a Master of Science in Econometrics and Mathematical Economics as well as a Doctorate (PhD.) in Economics from the London School of Economics, in the United Kingdom.

Edgardo Bautista

Ed Bautista is President of Mirant (Philippines) Corporation, a wholly owned subsidiary of Mirant Corporation's Asian business unit, Mirant Asia Pacific Ltd. (MAPL), that continent's largest independent power producer. In his current role, Bautista leads and manages business units in the Philippines and oversees operations over 2,300 megawatts of generating capacity.
He is also a member of the Mirant Asia-Pacific Board of Directors.

Prior to joining Mirant Philippines, Bautista was senior Vice President for First Philippine Holdings Corporation from 1978 to 1989. From 1977 to 1978, he served as Executive Vice President of E.J. Nell Company, a subsidiary of Jardine Davies, where he was responsible for the marketing of engineering systems, equipment, and supplies.

From 1966 to 1977, he was Executive Vice President for Westinghouse Electric International. He
developed the market for control equipment and established an integrated manufacturing and marketing company for control equipment.

Mr. Bautista has a Bachelors degree in Mechanical Engineering from De La Salle College in the Philippines, and has diplomas from the General Electric International School for Graduate Engineers of the General Electric Company in the USA, as well as from the Advanced Management Program at Harvard Business School.

Muhammed Aziz Khan

Muhammed Aziz Khan, a pioneering business personality in the power sector, is the chairman of Summit Group. Summit Group is recognized as the largest infrastructure industry company of Bangladesh employing over 1000 people. As Summit Group's chairman, Mr. Khan has gained sound and extensive knowledge of the global energy markets. Recently Summit bidded for a 450MW gas fired Power Plant at Sirajganj with the lowest price in the history of Bangladesh and possiblly in the world.

Summit today is a trendsetter and a pioneer in power, shipping, port services and energy sectors of Bangladesh. Summit is a company of "Firsts", being the first in private sector power generation, the owner of first private sector inland container freight station and liquid storage tanks terminal. United Summit Power Co. Ltd is the first indigenous private sector power generation company in Bangladesh and has set up three 11 MW power plants. Mr. Khan is the Chairman of Khulna Power Co. Ltd - the first joint venture private sector barge mounted power generation plant with a capacity of 114 MW.

Mr. Khan is the President of Bangladesh Energy Companies Association (BECA) since 2001, which is formed to represent and to promote the interests of private sector business organizations engaged in the energy sector.

Ranjit Lamech

Ranjit Lamech, Senior Energy Specialist, has been with the World Bank since 1992. He is currently the Energy Program Team Leader for Turkey with the infrastructure department in the Bank's Europe and Central Asia region. From 1993-2001, he worked primarily on the East Asian power sector, specifically in China, Vietnam and Thailand. He has worked on and managed investment, guarantee, and advisory engagements in these countries. He has written quite extensively on power sector reform and financing, power market design, and taxation issues. Prior to joining the World Bank, he worked with the Tata Electric Companies in India (1986-89), was a Fellow at Harvard Law School (1991-92) working on tax reform and investment incentive issues in Indonesia. Ranjit has an MS in Mechanical engineering from Stanford University (1986), an MPA from the Kennedy School of Government at Harvard (1991), as well as the International Tax Program Certificate from Harvard Law School (1991).

Nishanta Nanayakkara

Nishantha Nanayakkara is a Senior Lecturer of Electrical Engineering at the University of Moratuwa, Sri Lanka, where he teaches courses and conducts research related to power generation and system control, system modeling and predictions, as well as renewable energy generation and control (specifically, hydro, wind and ocean thermal energy conversion). Whilst a Senior Lecturer at the University of Moratuwa, a position he has held since 1995, Dr. Nanayakkara has also served as a member of the University's Senate Research Committee, the Higher Degrees Committee, the Board of the Industrial Automation and Research Centre, and as President of the Electrical Engineering Society and as the Department of Electrical Engineering Coordinator of Research.

Dr. Nanayakkara is also the Chairman and major shareholder of Hydro Power International (pvt) Ltd and Nilwalabase Hydro Power (pvt) Ltd, which primarily focuses on grid-connected hydro and small hydro power projects, and of ENCO (pvt) Ltd, which specializes in village-based, off-grid micro hydro projects. He is also the Director and a shareholder of Powerbase Technology (pvt) Ltd., Kandureliya Hydropower (pvt) Ltd, Natural Power (pvt) Ltd, Pan Asian Power (pvt) Ltd, and Manelwala Hydropower (pvt) Ltd. Dr. Nanayakkara has commissioned three grid-connected hydro power projects of 6MW total capacity, and another four small hydro power projects of 13MW capacity are currently under construction. He has also commissioned six village-based off-grid micro hydro power projects serving 3000 people.

Dr. Nanayakkara currently serves as the President of the Grid Connected Small Hydro Power Developers Association in Sri Lanka. He was also a member of the Government Committee working on developing a Renewable Energy Policy Framework for Sri Lanka, and has been the chief consultant and technical director for a range of grid-connected and off-grid hydro-power projects in Sri Lanka.

Previously, Dr. Nanayakkara also worked as a Research Associate at Saga University of Japan, and as Electrical Engineer at the Sri Lanka Ports Authority. Dr. Nanayakkara has a Bachelor of Science in Engineering from the University of Moratuwa, Sri Lanka, and a Master of Science as well as a Doctorate (PhD.) in Engineering from Saga University, Japan.

Anil K. Sardana

With a career spanning more than twenty years, Anil K. Sardana has been the Chief Executive Officer of North Delhi Power Limited (a Tata Power and Delhi Government Joint Venture) since July, 2002. In the span of one year, he has been responsible for spearheading the revival and restructuring of the electricity distribution scenario in North and North West Delhi, which was under the erstwhile DVB.

Previously, Mr. Sardana served as Vice President & Head of Corporate Planning & EPC business group at BSES (November 1994 to July 2002), and as a Board-member of various BSES subsidiaries (November 2001 to July 2002). Whilst at BSES, Mr. Sardana conceptualized and operated the first ever private sector coal washing facility for the power sector.

Mr. Sardana began his career as a Management Trainee at the National Thermal Power Corporation (NTPC), and undertook various responsibilities before leaving in 1994 as a Senior Manager. Whilst at NTPC he, amongst other things, supervised the Corporate Management of the Company's Operation of over 16,500 MW capacity (Fifteen Stations); worked as Project Manager of NTPC's 2100 MW Power Project at Ramagundam, overseeing all Project Management and Engineering activities; and he was also Principle Electrical Engineer for the Southern Region & National Capital Region project, responsible for System Design and Engineering of all Electrical Systems, Plant & Equipments.

Mr. Sardana has a Bachelor of Engineering degree in Electrical Discipline from the University of Delhi (Delhi College of Engineering), and he has earned both a management degree and a diploma from the Management Development Programme at the Indian Institute of Management - Ahmedabad (MDP - IIMA).