Company name
Contracted Energy Generation Companies
Project number
14300-01
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
10/13/2022
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
12/13/2022
Approval date
12/13/2022
Signed date
08/15/2023
Sponsoring entity
N/A
Investment Operations Department Contact
Portfolio Management Division
Investment type
Syndicated amount
USD $ 1,620,000,000
Financing amount
USD $ 180,000,000
Currency
USD
Project scope and objective
On August 2, 2022, Law No. 21,472 (the "MPC Act"), which creates the Tariff Stabilization Fund (the "Fund") and establishes a New Transitional Electricity Price Stabilization Mechanism for Customers subject to Price Regulation, was published in the Official Gazette of the Republic of Chile. The MPC Act regulates the terms and conditions under which electricity tariffs are to be stabilized and paid in the future. The Fund is intended to pay the differences that may arise between invoicing by distribution companies ("DisCos") to end customers for the energy and power component, and the amount payable to generation companies ("GenCos") for the supply of electricity under the contractual conditions in force.
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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.
IDB Invest has zero tolerance to reprisal or retaliation against anybody who voices its opinion or opposition to IDB Invest-financed projects.
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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.
ELECTRICITY TARIFF STABILIZATION LIQUIDITY FACILITY II - ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS)
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