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Company name

Collidim S.A. and Jolipack S.A.

Project number

12309-01

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
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B

Country

Uruguay

Sector

Energy

Status

In implementation

Disclosed date

05/11/2018

Projected date at which a project will be put forward for the Board of Executive Directors’ approval.

Projected board date
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06/12/2018

Approval date

06/13/2018

Signed date

06/20/2018

Sponsoring entity

Atlas Renewable Energy Spain S.L.

Investment Operations Department Contact

N/A

Investment type

Syndicated amount

USD $ 102,600,000

Financing amount

USD $ 17,917,800

Currency

USD

Project scope and objective

The Borrowers, owners of two solar photovoltaic power plants of 50MWp and 17MWp are seeking to refinance its current financing through an IDB Invest Senior and Subordinated A/B Bond. The B-Bond will be sold into the private placement market under section 4 (a) (2) of the 1933 U.S. Securities and Exchange Commission Act.

The proceeds will be used to: i) refinance the existing construction loan, and ii) pay related costs. As part of the financial plan the IDB Invest will provide a Senior A Loan for approximately US$10million, a Subordinate A loan of approximately US$2million. The tenor of the Senior A Loan and B Bond will be 25 years, and up to 15 years for the Subordinated A Loan and B Bond.

El Naranjal and Del Litoral (the “Generators”) are 50MW (AC)/59MW peak (DC) and 16MW (AC)/ 17MW peak (DC) photovoltaic (“PV”) power plants, each one with its associated facilities. Both use Ingeteam inverters and NextTrackr trackers, are located in Salto, Department of Salto, Uruguay, and currently operate under a 30-year Power Purchase Agreement (“PPA”) with the Administración Nacional de Usinas y Trasmisiones Eléctricas (“UTE”), the state-owned utility company of Uruguay.

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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

35.7 Kb

ENVIRONMENTAL AND SOCIAL ACTION PLAN (ESAP)

95.6 Kb

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Contact information

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Alternatively, you may also use the following contact information :

Client Contact

EMAIL

N/A

PHONE NUMBER

N/A

POST OFFICE ADDRESS

N/A

IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

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