Company name
Colombian Energy Efficiency Trust
Project number
11912-02
FI-2 operations are those where the risk potential is considered medium: the FI’s current or future portfolio consists of or is expected to consist of, business activities that have potential limited adverse environmental or social risks or impacts that are few in number, generally site-specific, largely reversible, and readily addressed through mitigation measures; or includes a very limited number of business activities with potential adverse environmental or social risks or impacts that are diverse, irreversible, or unprecedented.
E&S category
FI-2
Country
Colombia
Sector
Financial Institutions
Status
Inactive
Disclosed date
09/30/2016
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
11/08/2016
Approval date
12/22/2016
Signed date
N/A
Sponsoring entity
MIF/ IIC
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
USD $ 6,250,000
Financing amount
USD $ 20,000,000
Currency
COP, USD
Project scope and objective
The objective of the project is to support the implementation energy efficiency projects (the “EE Projects”) developed by Energy Services companies (the “ESCOs”) in Colombia by providing an adequate financing solution involving capital markets which will give a platform to mobilize investors with the appetite and capacity to finance EE Projects through a securitized debt issuance .
The project will offer a two-stage financing mechanism. First, during the Accumulation Stage, the IDB will provide a senior warehousing loan (IDB Loan) to a dedicated vehicle, the Colombia Energy Efficiency Trust (“CEET”), for the purpose of purchasing and accumulating credit rights arising from the EE Projects for its subsequent securitization. Second during the Mobilization Stage, the IIC will provide a Partial Credit Guarantee (PCG) to support the securitization of these credit rights in local or international capital markets.
The project is part of a larger effort developed in partnership with the Multilateral Investment Fund (MIF) and the CTF. Joint efforts include additional financial resources to the CEET such as equity, guarantees and grants from MIF, CTF and the Nordic Development Fund (NDF). In addition, technical assistance resources from MIF and CTF will focus on capacity building (to the demand and supply side of the EE value chain) and SME awareness raising.
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Contact information
For inquiries, comments and information requests about the project
Request informationAlternatively, you may also use the following contact information :
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 OfficesFor inquiries, comments and information requests about the project
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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 REVIEW:
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