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Company name

Inmobiliaria Hondureña del Valle S.A. de C.V.

Project number

12467-01

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

Honduras

Sector

N/A

Status

In implementation

Disclosed date

12/21/2018

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

Projected board date
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01/22/2019

Approval date

03/22/2019

Signed date

12/13/2019

Sponsoring entity

N/A

Investment Operations Department Contact

Portfolio Management Division

Investment type

Syndicated amount

USD $ 875,000

Financing amount

USD $ 5,000,000

Currency

USD

Project scope and objective

Inmobiliaria Hondureña del Valle S.A. de C.V. (“INHDELVA”) is one of the main Duty-Free Zones in Honduras, it has a constructed area of approximately 146,300 m2 that mainly houses international companies engaged in light manufacturing, yarn and logistics among other activities. It has been in operation since 1989 and is contemplating investing in the extension of its industrial roof and the installation of solar panels for its own renewable energy consumption.  



IDB Invest is considering granting a long-term loan to finance the solar park installation, with a capacity of up to 6.48 MWp (8,374 MWh/year). A first loss guarantee is expected to be granted for this project under the SREP (Honduran Self-Supply Renewable Energy Guarantee Program) of up to $1.25 million as well as a possible mixed funding instrument.   



The proposed financing takes into consideration the following objectives: (i) To support one of the country’s main Duty-Free zones generate solar energy for the self-supply of its clients, thereby improving competitiveness as energy costs are a determining factor in the appeal of DFI to the textile and manufacturing sector; (ii) to reduce greenhouse gas (GHG) emissions by up to 5,182 Ton CO2/year; (iii) to contribute to an energy storage study with the use of batteries to avoid demand peaks; and (iv) the creation of jobs through the execution of the project, and transfer knowledge to the local market through technical assistance.        


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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

87.0 Kb

Client files

This section provides the key environmental and social assessment documents produced by the client for this project.

GRUPO KATTAN - ESAP.PDF

124.2 Kb

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Contact information

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Alternatively, you may also use the following contact information :

Client Contact

EMAIL

julio.avila@kattangroup.com

PHONE NUMBER

(+504) 2617-0050

POST OFFICE ADDRESS

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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