Company name
Parque Eólico del Bicentenario S.A. (PEBSA)
Project number
11575-05
Category B projects have potential environmental and/or social impacts and risks that are less adverse than those of a Category A and which are generally limited to the project site, largely reversible and can be mitigated via measures that are readily available and feasible to implement in the context of the operation.
E&S category
B
Country
Argentina
Sector
Energy
Status
In implementation
Disclosed date
03/28/2018
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
02/27/2018
Approval date
08/03/2018
Signed date
10/12/2018
Sponsoring entity
Petroquímica Comodoro Rivadavia S.A. (PCR)
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
N/A
Financing amount
USD $ 50,000,000
Currency
USD
Project scope and objective
The objective of the Project is the financing of the construction, operation and maintenance a wind farm of approximately 100 MW and its associated facilities. The Project connects to the 132 kV electric power transmission line “Petroquímica-Puerto Deseado” which runs right next to the Project. As part of the interconnection works, the 500 kV Santa Cruz Norte substation will be boosted with a new 150 MVA 500 kV/132 kV transformer. The total project cost is approximately US$ 150-155 million (including VAT & interest during construction) and will be financed on a corporate basis. The financial plan for the project will include an A loan of up to US$ 60 million with a 10 year tenor, and a Co-loan from an ECA for the rest of the financing. The loan will also include a grace period of six (6) months after the commercial operation date of the Project. The project will contribute to the development of renewable energy in Argentina by contributing to the diversification of its energy matrix. The first phase of the project will add at least 100 MW of renewable capacity to the national grid thus decreasing fossil fuel generation reliance; and by displacing approximately 213,733 equivalent tons of carbon dioxide emissions per year.
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Contact information
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Client Contact
N/A
PHONE NUMBER
N/A
POST OFFICE ADDRESS
N/A
IDB Invest Contact
requestinformation@idbinvest.org
PHONE
+1(202)-566-4566
ADDRESS
1350 New York Ave NW, Washington, DC 20005
COUNTRY OFFICES
IDB Invest Country OfficesIndividuals or communities can submit complaints and concerns related to environmental, social, or corporate governance issues to the Management Grievance Mechanism by e-mailing mgm@iadb.org or by calling +1 202 312 4040.
As a last resort, affected communities have access to the IDB Invest Independent Consultation and Investigation Mechanism by writing to mecanismo@iadb.org or MICI@iadb.org or calling +1(292) 623-3952.
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Environmental and social review
IDB Invest conducts an environmental and social due diligence (ESDD) commensurate with the nature, scale, and stage of the project, and with its level of environmental and social risks and impacts. The ESDD will confirm the project E&S categorization and assess the project with respect to the client requirements in IDB Invest Environmental and Social Sustainability Policy. The results of the ESDD, including any identified gaps are described in the Environmental and Social Review Summary (ESRS) provided below. For projects approved as of 2016, any gaps with respect to IDB Invest's Environmental and Social Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) presented below, to comply with the date mentioned above.
ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY
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