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
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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
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12/01/2020

Approval date

N/A

Signed date

N/A

Sponsoring entity

N/A

Team leader

Valdes Florenzano, Claudia Andrea

Investment type

Financing requested

N/A

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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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. Any gaps with respect to the IDB Invest Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) provided below.

ENVIRONMENTAL AND SOCIAL REVIEW

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Contact information

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Request information

Alternatively, you may also use the following contact information:

Client Contact

CONTACT NAME

Félix Gómez

POSITION

Corporate Finance Manager

PHONE NUMBER

+56 2 2686 8567

EMAIL

felix.gomez@aes.com

IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

COUNTRY OFFICES

IDB Invest Country Offices