Despite the increasing reliance on private capital in the power sector, Public-Private Partnership (PPP) projects in developing countries often struggle with sustainability due to complex, interdependent risk environments. This study aims to identify the interrelationships among factors that threaten sustainable PPP-based power infrastructure development and to propose effective mitigation strategies. Risk factors were consolidated and classified into Construction, Operational, and General categories. Using Interpretive Structural Modeling (ISM), hierarchical levels were assigned to these factors to visualize their structural dependencies. The analysis revealed that Political, Legal, and Environmental risks are located at the foundational levels (Levels VI and V) of the hierarchy, acting as primary drivers that trigger subsequent operational failures. Given their critical roles, these factors were prioritized to establish targeted risk mitigation strategies. To address Political risk, the study proposes mitigating political uncertainty and diversifying financing channels. Regarding Regulatory risk, it emphasizes balancing investment between power generation and transmission and distribution (T operational risks have low driving power. • Proposes priority mitigation strategies to enhance sustainable PPP development.
Park et al. (Fri,) studied this question.