Company name

Vientos de Arauco Renovables SAU and Arauco Renovables SAU

Project number

12133-01

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

Argentina

Sector

Energy

Status

Closed

Disclosed date

07/03/2018

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

Projected board date
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06/26/2018

Approval date

11/07/2018

Signed date

N/A

Sponsoring entity

Parque Eólico Arauco S.A.P.E.M.

Team leader

Duhart, Martin Javier

Investment type

Financing requested

N/A

Syndicated amount

N/A

Financing amount

USD $ 34,000,000

Currency

USD

Project scope and objective

IDB Invest is considering providing a loan to support the construction of (a) Phases 1 and 2 of the Arauco Wind Project II (Central Arauco II – phases 1 and 2), a wind farm of approximately 99.75 MW of installed capacity (99.75 MW) under the Special Purpose Company Vientos de Arauco Renovables SAU, (b) Phases 3 and 4 of the Arauco Wind Project II (Central Arauco II phases 3 and 4) , a wind farm of approximately 95 MW of installed capacity under the Special Purpose Company Arauco Renovables SAU (both plants to be located in the same location as the existing plants) and (c) an 83 kilometer, 132 kV high voltage transmission line to connect the Arauco Wind Project II plants to the 500 kV distribution transforming station (La Rioja Sur- operated by Transnoa) that connects with the national grid (the “Project”).

The Project will sell electricity to CAMMESA under two 20-year power purchase agreements (the “PPAs” and each a “PPA”) awarded under the RenovAr Program, as further described below. The PPA for Phases 1 and 2 was won by the Sponsor at a price of US$ 67.19/MWh under RenovAr Round 1.0 and the PPA for Phases 3 and 4 was won by the Sponsor at a price of US$56.67/MWh under RenovAr Round 1.5. The Project is expected to start production by 2019.

The financing will consist of an A Loan for up to US$50M from the IDB Group and the balance from other co-lenders, like CESCE.

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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. Any gaps with respect to the IDB Invest Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) provided below.

ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY

30.6 Kb

Client files

This section provides the key environmental and social assessment documents produced by the client for this project.

ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY - PARQUE ARAUCO 2018.07.PDF

254.5 Kb

INFORME EIA PARQUE ARAUCO Y LAT-V21.PDF

1.0 Mb

INFORME IMPACTO AMBIENTAL - CA I ETAPA IV Y CA II COMPRESSED.PDF

3.6 Mb

ANEXO I.PDF

4.3 Mb

ANEXO II-CAMPOS ELECTROMAGNETICOS.PDF

497.5 Kb

ANEXO III FLORA Y FAUNARIOJA 1.PDF

1.0 Mb

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Contact information

For inquiries, comments and information requests about the project

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Alternatively, you may also use the following contact information:

Client Contact

CONTACT NAME

Sr. Arq. Fernando Carbel

POSITION

CEO – Parque Arauco SAPEM

PHONE NUMBER

+54 3804 431439

EMAIL

jfcarbel@peasapem.com

IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

COUNTRY OFFICES

IDB Invest Country Offices