Company name
Dolores Wind, S.A. de C.V, Parque Amistad IV, S.A. de C.V. y EGP Magdalena Solar, S.A. de C.V.
Project number
12718-03
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
Mexico
Sector
Energy
Status
In implementation
Disclosed date
12/20/2019
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
01/21/2020
Approval date
01/28/2020
Signed date
02/27/2020
Sponsoring entity
N/A
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
USD $ 50,000,000
Financing amount
USD $ 738,900,000
Currency
USD
Project scope and objective
The proposed financing consists of three separate loans for three renewable energy projects (two wind farms and a solar plant with a total capacity of more than 600 MW) developed and built by Enel S.p.A. ("Enel") through its Mexican renewable energy subsidiary, Enel Rinnovabile S.A. de C.V. ("Enel Rinnovabile"). The projects include the Dolores Wind Farm Project in Nuevo León ("Dolores"), the Amistad IV Wind Farm Project in Coahuila ("Amistad"), and the Magdalena Solar Project in Tlaxcala ("Magdalena", which together with Dolores and Amistad are referred to as the "Portfolio Projects"). The estimated total cost of the three projects is approximately USD 700 million.
The financing consists of a total aggregate amount of USD 150 million, provided by IDB Invest with a bullet repayment after seven years, and will be jointly and severally guaranteed by Enel.
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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
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