Company name
AES Gener S.A.; Colbun S.A.; Enel Generación Chile S.A.; Enel Green Power Chile S.A.; Engie Energía Chile S.A.; Eólica Monte Redondo SpA. y Guacolda Energía S.A.
Project number
13330-01 / 13330-02
Category C projects are those that are likely to result in very limited or no adverse environmental or social impacts or risks.
E&S category
C
Country
Chile
Sector
Energy
Status
Proposed
Disclosed date
10/23/2020
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
12/01/2020
Approval date
N/A
Signed date
N/A
Sponsoring entity
N/A
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
N/A
Financing amount
USD $ 50,000,000
Currency
USD
Project scope and objective
This operation (hereinafter, the "Operation" or the "Project") is intended to provide liquidity to the group of companies formed by AES Gener S.A., Colbún S.A., Enel Generación Chile S.A., Enel Green Power Chile S.A., Engie Energía Chile S.A., Eólica Monte Redondo SpA., and Guacolda Energía S.A. (hereinafter, the "Companies") in order to address the economic impact of the Tariff Stability Act and the Companies’ need for liquidity resulting from the deferment of payment of part of the power purchase agreement (PPA) price set forth in the aforementioned Law.
To this end, and pursuant to the aforementioned Law, the Project will allow for the issuance of bonds via a special purpose vehicle, to purchase the credit rights generated in favor of the Companies.
This transaction has been divided to adapt to the estimated calendar of acquisition of the credit rights.
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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.
For 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 AND SOCIAL REVIEW
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