Company name
Grupo Gelec S.A.S. ("Gelec")
Project number
CO3927A-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
Colombia
Sector
Energy
Status
Completed
Disclosed date
07/22/2011
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
08/29/2011
Approval date
09/08/2011
Signed date
09/16/2011
Sponsoring entity
N/A
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
USD $ 1,730,000
Financing amount
USD $ 2,600,000
Currency
USD
Project scope and objective
Grupo Gelec S.A.S. (Gelec) was established in 2009 to generate, transmit, distribute, and market electricity. The company is in the process of purchasing the 1.48 megawatt Patico – La Cabrera hydropower plant and associated assets. The power plant, which is operating, is located in Puracé-Coconuco township, in the department of Cauca.
The purpose of this IIC operation is to partially finance the purchase, upgrading, and modernization of the hydropower plant and associated assets. The amount of financing proposed is US$2.6 million.
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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
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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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