Skip to main content

Company name

La Jacinta S.R.L

Project number

12077-02

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
tooltip

B

Country

Uruguay

Sector

Energy

Status

In implementation

Disclosed date

11/15/2017

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

Projected board date
tooltip

12/15/2017

Approval date

12/13/2017

Signed date

01/23/2018

Sponsoring entity

Invenergy L.L.C.

Investment Operations Department Contact

N/A

Investment type

Syndicated amount

USD $ 88,733,400

Financing amount

USD $ 10,390,200

Currency

USD

Project scope and objective

The Borrower, a 50MW solar power project financed by the IDB with an A/B Loan for US$56 million and a C2F Loan for US$25 million is seeking to optimize it current financing through an IDB Invest A/B Bond. The B-Bond will be sold into the private placement market under section 4 (a) (2) of the 1933 U.S. Securities and Exchange Commission Act. This structure will allow the Project to achieve longer tenors than in the traditional bank market.

The proceeds of the B-Bond will be used to repay the IDB A and B Loans in their entirety. As part of the financial plan the IDB Invest provide an A Loan for approximately US$3.6 million and purchase up to 5% of the B-Bond. The tenor of the A Loan and B Bond will be 24 years.

La Jacinta is a 50MW (AC) / 64.8MW peak (DC) fixed tilt photovoltaic (“PV”) power plant and its associated facilities. La Jacinta is located in Salto, Department of Salto, Uruguay, and currently operates under a 30-year Power Purchase Agreement (“PPA”) with UTE, the state-owned utility of Uruguay.

For inquiries, comments and information requests about the project

Request information

Learn 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.

SCOPE OF THE ENVIRONMENT REVIEW

46.8 Kb

For inquiries, comments and information requests about the project

Request information

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

Contact information

For inquiries, comments and information requests about the project

Request information

Alternatively, you may also use the following contact information :

Client Contact

EMAIL

N/A

PHONE NUMBER

N/A

POST OFFICE ADDRESS

N/A

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 .