Company name
Aela Generación;AES Gener;Cerro Dominador;Colbun;Chungungo; Empresa Eléctrica Caren;Parque Eólico Taltal;Enel Generación Chile;Enel Green Power Chile;Engie Energía Chile;Eólica Monte Redondo;GM Holdings;Guacolda Energía;Norvind;San Juan y Santiago Solar
Project number
12111-02
Category C projects are those that are likely to result in very limited or no adverse environmental or social impacts or risks.
E&S category
C
Country
Chile
Sector
Energy
Status
In implementation
Disclosed date
07/17/2020
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
12/04/2020
Approval date
12/04/2020
Signed date
02/11/2021
Sponsoring entity
N/A
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
USD $ 44,027,500
Financing amount
USD $ 22,013,700
Currency
USD
Project scope and objective
This operation (the "Operation" or the "Project") is intended to provide a liquidity facility to a group of companies comprising Aela Generación S.A.; AES Gener S.A.; Cerro Dominador CSP S.A.; Colbún S.A.; Chungungo S.A.; Empresa Eléctrica Caren S.A.; Empresa Eléctrica de Panguipulli S.A.; Enel Generación S.A.; Engie Energía Chile S.A.; Eólica Monte Redondo S.A.; GM Holdings S.A.; Guacolda Energía S.A.; Norvind S.A.; San Juan S.A.; and Santiago Solar S.A.; (the "Clients" or the "Companies") to counter the repercussions in the economic environment generated by the Tariff Stability Law and the lack of liquidity they are experiencing as a result of the postponement of payment of part of the energy purchase agreement (PPA) price set forth in said law. The funds of the Operation will be used exclusively to acquire receivables associated with the stabilization mechanism established by the aforementioned Law.
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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 OfficesIndividuals or communities can submit complaints and concerns related to environmental, social, or corporate governance issues to the Management Grievance Mechanism by e-mailing mgm@iadb.org or by calling +1 202 312 4040.
As a last resort, affected communities have access to the IDB Invest Independent Consultation and Investigation Mechanism by writing to mecanismo@iadb.org or MICI@iadb.org or calling +1(292) 623-3952.
For inquiries, comments and information requests about the project
Request informationLearn more about how we provide private-sector solutions in the region .
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
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