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Company name

Energía de Colombia S.A.S. E.S.P.

Project number

14898-01

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
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B

Country

Colombia

Sector

Energy

Status

Proposed

Disclosed date

01/31/2024

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

Projected board date
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05/21/2024

Approval date

N/A

Signed date

N/A

Sponsoring entity

N/A

Investment Operations Department Contact

N/A

Investment type

Syndicated amount

N/A

Financing amount

USD $ 50,947,100

Currency

COP

Project scope and objective

The UPME STR 02-2019 project (the “Project” or “STR Barranquilla Line”), located in the Caribbean region of Colombia, in the Department of Atlántico, Special Port and Industrial District of Barranquilla and, in a minimal proportion, in the municipality of Soledad, was awarded in 2020 by the Mining and Energy Planning Unit (“UPME”) to the Energía de Colombia STR S.A.S E.S.P consortium (the “Concessionaire” or the “Client”), whose main shareholder is the firm Ortiz Construcciones y Proyectos S.A. with 80% participation, “Fondo para Inversiones en el Exterior” (FIDEX) with 18.62% and “Compañía Española de Financiación del Desarrollo” (COFIDES) with the remaining 1.38%.

The general objective of the Project is to guarantee the improvement and reliability in the electrical supply for the Municipalities of Barranquilla and Soledad in the Department of Atlántico, through the design, supply, construction, operation and maintenance of: (i) the Estadio Substation 110 kV; (ii) the expansion and modernization of eight (8) substations and the interconnection of nine (9) substations; (iii) the installation of about twenty-four (24) kilometers of 110kV high voltage underground lines, of which 1.08 kilometers were carried out in the municipality of Soledad; and (iv) the construction of the associated works.

The Project formally began the operation phase on November 2nd, 2023 for a period of 25 years, measured from the beginning of operation and after the conclusion of the basic and detailed engineering designs, permit and license procedures, the supply and assembly of equipment, the construction, commissioning and corresponding testing of the works.

The Project was originally funded through a medium-term financing structure, and currently its refinancing is being considered. In this context, IDB Invest expects to grant up to COP 200,000 million within the longer-term and less liquid local currency tranche, helping to mobilize resources from local banks and institutional investors

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Early disclosure

LÍNEA STR BARRANQUILLA - ENVIRONMENTAL AND SOCIAL STRATEGY (ESS)

143.4 Kb

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Contact information

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Alternatively, you may also use the following contact information :

Client Contact

EMAIL

andres.molina@edcesp.com

PHONE NUMBER

(+57) 320 390 4807

POST OFFICE ADDRESS

IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

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