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Company name

Air-e S.A.S E.S.P

Project number

14069-01

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

Colombia

Sector

Energy

Status

In implementation

Disclosed date

05/31/2023

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

Projected board date
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08/08/2023

Approval date

08/08/2023

Signed date

12/01/2023

Sponsoring entity

N/A

Investment Operations Department Contact

N/A

Investment type

Syndicated amount

N/A

Financing amount

USD $ 44,737,200

Currency

COP

Project scope and objective

Providing long-term guaranteed corporate financing to Air-e S.A.S. E.S.P. (the “Company or Aire”). Aire is the third largest energy distribution and commercialization company in Colombia, serving 1.25 million users in the departments of Atlántico, La Guajira and Magdalena. In 2020, the Company was selected by the national government to assume the operation of the regional electrical network, replacing the previous operator with the commitment to improve efficiency in service provision, increase quality indices and reduce distribution system losses. .

IDB Invest will provide term financing for an approximate amount of COP 180,000 million. Through this operation, IDB Invest seeks to improve the quality of the electricity service in the Colombian Caribbean area.

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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.

AIR-E - ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS)

409.6 Kb

AIR-E - ENVIRONMENTAL AND SOCIAL ACTION PLAN (ESAP)

112.6 Kb

For inquiries, comments and information requests about the project

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Contact information

For inquiries, comments and information requests about the project

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Alternatively, you may also use the following contact information :

Client Contact

EMAIL

cynthia.ferrer@air-e.com

PHONE NUMBER

+57 311 3844409

POST OFFICE ADDRESS

IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

For inquiries, comments and information requests about the project

Request information

Learn more about how we provide private-sector solutions in the region .