Partnerships with Monarchs - Two Case Studies: Case Two Partnerships with Monarchs in the Development of Energy Resources: Dissecting an Independent Power Project and Re-Evaluating the Role of Multilateral and Project Financing in the International Energy Sector

This article is part of a "twin series." The analysis that follows constitutes the second case study as part of a comprehensive examination of two representative major international business transactions in the capital-intensive petroleum and energy sector. The first case study, entitled Partnerships with Monarchs in the Search for Oil: Unveiling and Re-Examining the Patterns of "Third World" Economic Development in the Petroleum Sector, was published in the previous issue of this Journal. The first part of the "twin series" ("First Article" or "Case One") explores and critiques the current patterns of "Third World" economic development in the exploration for, development, and production of petroleum resources. The instant Article ("Case Two") focuses specifically on the development of energy resources once petroleum has been extracted. Case Two dissects an Independent Power Project ("IPP") and then re-evaluates the role played by Multilateral and Project Financing in such a project. The instant Article, or Case Two, should be read as a continuation of the First Article, Case One. Although each case study is presented under separate title and published independently in two consecutive issues of this Journal, both titles should be considered part of one comprehensive study and analysis, with the instant Article serving as a continuation of