Company name
Fingano S.A. and Vengano S.A. (Carapé)
Project number
UR3857A-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
Uruguay
Sector
Energy
Status
Completed
Disclosed date
10/24/2013
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
11/26/2013
Approval date
12/03/2013
Signed date
04/11/2014
Sponsoring entity
Corporación América (Argentina), Grupo San José (Spain), and Contreras Hermanos (Argentina)
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
USD $ 15,000,000
Financing amount
USD $ 5,000,000
Currency
USD
Project scope and objective
The IIC financing will be used to partially fund the installation, commissioning, and operation of a 90 MW wind farm in the Sierra de Carapé mountains; the construction of a 150 kV, 39 km transmission line to connect the wind farm to the national electricity grid; and road work and other civil engineering works.
Fingano S.A. and Vengano S.A. are special-purpose entities established to develop two wind farms—jointly, “Parque Eólico Carapé”—with a combined nominal output of 90 MW. The wind farms are located in the Sierra de las Cañas and Sierra de Carapé mountain ranges in Maldonado Department, some 20 km south-southeast of the town of Aiguá. The project includes a two-phase installation of 31 three-megawatt wind turbines.
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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.
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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
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