Company name
X-ELIO
Project number
11894-02
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
10/06/2017
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
12/05/2017
Approval date
12/14/2017
Signed date
06/07/2018
Sponsoring entity
X-ELIO Energy, S.L.
Investment Operations Department Contact
Portfolio Management Division
Investment type
Syndicated amount
USD $ 14,960,000
Financing amount
USD $ 20,430,000
Currency
USD
Project scope and objective
Project Name: Guanajuato Solar PV Project
Borrowers: FV Mexsolar I, S.A.P.I. de C.V.;
FV Mexsolar II, S.A.P.I. de C.V.;
Sponsoring Entity: (if any) X-ELIO Energy, S.L.
Financing Requested: Approximately US$45,347,000
Project Location: Los Rodriguez, San Miguel de Allende (Guanajuato)
The Guanajuato Solar PV Project (the “Project”) consists of the design, construction, commissioning and operation of a solar photovoltaic plants with a capacity of 70.35 MWp that will connect to the Mexican Comisión Federal de Electricidad (“CFE”) national grid system; and all associated transmission and interconnection facilities. The Project is being developed by X-ELIO Energy, S.L. (the “Sponsor”), in Los Rodriguez, San Miguel de Allende (Guanajuato) in Mexico. The total project cost is approximately USD 62,690,000. The financial plan is expected to include Inter-American Investment Corporation (“IIC”) and Inter-American Development Bank (“IDB”) loans and co-loans from the China Co-Financing Fund for Latin America and the Caribbean (“China Fund”), the Canadian Climate Fund for the Private Sector in the Americas (“C2F”) and the Instituto Credito Oficial (“ICO”), with 20-year door to door tenors, while a commercial bank tranche which will have a 16-year tenor. The Project was awarded a long-term (Energy & Capacity 15-yrs; CELs 20-yrs) Power Purchase Agreement (“PPA”) by the Mexican Federal Electricity Agency, Centro Nacional de Control de Energía (“CENACE”) in the 2nd Mexican Power Auction (“Subasta de Largo Plazo or “SLP 01/2016”) in September 2016. The plant will reach commercial operations date (“COD”) as per the PPA offer in June 2018. The PPA was signed with CFE, a BBB+ rated institution that has the implicit backing of the Government of Mexico (“GoM”). The Project will contribute to the GoM’s objectives of diversifying its electricity matrix, by delivering clean, PV solar energy and supporting the push to create a wholesale electricity market, while reducing the country’s dependency on thermal energy, as Mexico’s goal is for clean energy sources to provide 50% of the nation’s electricity generation mix by 2050.
Project Name: Xoxocotla Solar PV Project
Borrowers: X-Elio FV Xoxocolta, S.A.P.I de C.V.
Sponsoring Entity: (if any) X-ELIO Energy, S.L.
Financing Requested: Approximately US$ 44,071,000
Project Location: Xoxocotla, Ayala (Morelos)
The Xoxocotla Solar PV Project (the “Project”) consists of the design, construction, commissioning and operation of a solar photovoltaic plants with a capacity of 81.40 MWp that will connect to the Mexican Comisión Federal de Electricidad (“CFE”) national grid system; and all associated transmission and interconnection facilities. The Project is being developed by X-ELIO Energy, S.L. (the “Sponsor”), in Xoxocotla (Morelos)in Mexico. The total project cost is approximately USD 65,882,000. The financial plan is expected to include Inter-American Investment Corporation (“IIC”) and Inter-American Development Bank (“IDB”) loans and co-loans from the China Co-Financing Fund for Latin America and the Caribbean (“China Fund”), the Canadian Climate Fund for the Private Sector in the Americas (“C2F”) and the Instituto Credito Oficial (“ICO”), with 20-year door to door tenors, and a commercial bank loan with a 16 year tenor. The Project was awarded a long-term (Energy & Capacity 15-yrs; CELs 20-yrs) Power Purchase Agreement (“PPA”) by the Mexican Federal Electricity Agency, Centro Nacional de Control de Energia (“CENACE”) in the 2nd Power Auction (“Subasta de Largo Plazo or “SLP 01/2016”) in September 2016. The plant will reach commercial operations date (“COD”) as per the PPA offer in June 2019. The PPA was signed with the CFE, a BBB+ rated institution that has the implicit backing of the Government of Mexico (“GoM”). The Project will contribute to the GoM’s objectives of diversifying its electricity matrix, by delivering clean, PV solar energy and supporting the push to create a wholesale electricity market, while reducing the country’s dependency on thermal energy, as Mexico’s goal is for clean energy sources to provide 50% of the nation’s electricity generation mix by 2050.
Project Name: Conejos - Terranova Solar PV Project
Borrowers: Conejos Médanos S.A.P.I de C.V
Sponsoring Entity: (if any) X-ELIO Energy, S.L.
Financing Requested: Approximately US$49,927,000
Project Location: Municipality of Juarez, Chihuahua State, Mexico
The Conejos - Terranova Solar PV Project (the “Project”) consists of the design, construction, commissioning and operation of a solar photovoltaic plants with a capacity of 93.71 MWp that will connect to the Mexican Comisión Federal de Electricidad (“CFE”) national grid system; and all associated transmission and interconnection facilities. The Project is being developed by X-ELIO Energy, S.L. (the “Sponsor”), in Ascension, Suarez (Chihuahua) in Mexico. The total project cost is approximately USD 74,651,000. The financial plan is expected to include Inter-American Investment Corporation (“IIC”) and Inter-American Development Bank (“IDB”) loans and co-loans from the China Co-Financing Fund for Latin America and the Caribbean (¨China Fund¨), the Canadian Climate Fund for the Private Sector in the Americas (¨C2F¨) and the Instituto Credito Oficial (¨ICO¨), with 20-year door to door tenors, and a commercial bank tranche with a 16-year tenor. The Project was awarded a long-term (Energy & Capacity 15-yrs; CELs 20-yrs) Power Purchase Agreement (“PPA”) by the Mexican Federal Electricity Agency, Centro Nacional de Control de Energía (“CENACE”) in the 2nd Power Auction (“Subasta de Largo Plazo or “SLP 01/2016”) in September 2016. The plant will reach commercial operations date (“COD”) as per the PPA offer in March 2019. The PPA was signed with CFE, rated BBB+ rated institution that has the implicit backing of the Government of Mexico (“GoM”). The Project will contribute to the GoM’s objectives of diversifying its electricity matrix, by delivering clean, PV solar energy and supporting the push to create a wholesale electricity market, while reducing the country’s dependency on thermal energy, as Mexico’s goal is for clean energy sources to provide 50% of the nation’s electricity generation mix by 2050.
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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
carlos.egido@x-elio.com
PHONE NUMBER
T.- (+52) 55 4976 0988
POST OFFICE ADDRESS
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 AND SOCIAL REVIEW SUMMARY
28.8 Kb
ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS) - GUANAJUATO PV SOLAR PLANT
167.1 Kb
ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS) - TERRANOVA PV SOLAR PLANT
410.7 Kb
ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS) - XOXOCOTLA PV SOLAR PLANT
170.2 Kb