Company name
Vientos de Arauco Renovables SAU and Arauco Renovables SAU
Project number
12133-01
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
B
Country
Argentina
Sector
Energy
Status
Inactive
Disclosed date
07/03/2018
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
06/26/2018
Approval date
11/07/2018
Signed date
N/A
Sponsoring entity
Parque Eólico Arauco S.A.P.E.M.
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
N/A
Financing amount
USD $ 34,000,000
Currency
USD
Project scope and objective
IDB Invest is considering providing a loan to support the construction of (a) Phases 1 and 2 of the Arauco Wind Project II (Central Arauco II – phases 1 and 2), a wind farm of approximately 99.75 MW of installed capacity (99.75 MW) under the Special Purpose Company Vientos de Arauco Renovables SAU, (b) Phases 3 and 4 of the Arauco Wind Project II (Central Arauco II phases 3 and 4) , a wind farm of approximately 95 MW of installed capacity under the Special Purpose Company Arauco Renovables SAU (both plants to be located in the same location as the existing plants) and (c) an 83 kilometer, 132 kV high voltage transmission line to connect the Arauco Wind Project II plants to the 500 kV distribution transforming station (La Rioja Sur- operated by Transnoa) that connects with the national grid (the “Project”).
The Project will sell electricity to CAMMESA under two 20-year power purchase agreements (the “PPAs” and each a “PPA”) awarded under the RenovAr Program, as further described below. The PPA for Phases 1 and 2 was won by the Sponsor at a price of US$ 67.19/MWh under RenovAr Round 1.0 and the PPA for Phases 3 and 4 was won by the Sponsor at a price of US$56.67/MWh under RenovAr Round 1.5. The Project is expected to start production by 2019.
The financing will consist of an A Loan for up to US$50M from the IDB Group and the balance from other co-lenders, like CESCE.
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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 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
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