FELT is an innovative implementation model conceived by Mike McWilliams.
The concept is to separate the provision of an infrastructure facility from the operation and maintenance contract while retaining private sector participation in its delivery.
The concept was originally developed to attract private finance for capital intensive hydroelectric projects in countries with challenging financing environments. This followed decades of failure to implement such projects using traditional IPP models such as BOT.
A public entity specifies its requirements, obtains land, licenses and permits and contracts a private company to deliver the project.
The private company raises finance, completes the design, constructs and commissions the project, and then leases it to the public entity for an agreed term.
At the end of the lease term the project is transferred to the public entity free of charge.
The liability of the public entity is balanced by its right of access.
For more detail, download and read the FELT papers.