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Company name

GR Cortarrama S.A.C.

Project number

14863-01

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

Peru

Sector

Energy

Status

In implementation

Disclosed date

09/26/2024

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

Projected board date
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10/28/2024

Approval date

10/28/2024

Signed date

11/15/2024

Sponsoring entity

Yinson Renewables Pte. Ltd.

Investment Operations Department Contact

Infrastructure and Energy Division

Investment type

Syndicated amount

N/A

Financing amount

USD $ 29,505,000

Currency

USD

Project scope and objective

The proposed financing involves a senior loan to GR Cortarrama S.A.C. to support the development, construction, and operation of a 96.75 MWp / 80 MWac solar photovoltaic power plant in the department of Arequipa, Peru. The IDB Invest loan will cover up to 33% of total project costs. The project's development objectives include promoting non-conventional renewable energy and reducing the country's reliance on hydroelectric and thermal energy generation

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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.

MATARANI SOLAR PROJECT - ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY EN

327.7 Kb

MATARANI SOLAR PROJECT - ENVIRONMENTAL AND SOCIAL ACTION PLAN EN

204.8 Kb

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Contact information

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Alternatively, you may also use the following contact information :

Client Contact

EMAIL

renewables@yinson.com

PHONE NUMBER

+47 223 40 110

POST OFFICE ADDRESS

P.O. Box 1553 Vika, 0117 Oslo, Norway

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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