Company name
Renewstable (Barbados) Inc.
Project number
13795-01
Category A projects could result in potentially significant environmental and/or social risks and impacts, which are diverse, irreversible, or unprecedented that may extend beyond the boundaries of the actual project site or facilities. In principle, Category A includes projects which have significant impacts on protected or sensitive areas21 and/ or vulnerable groups.
E&S category
A
Country
Barbados
Sector
Energy
Status
Proposed
Disclosed date
01/08/2024
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
02/17/2025
Approval date
N/A
Signed date
N/A
Sponsoring entity
Hydrogene de France (‘HDF Energy’) and Rubis Caribbean Holdings Inc.
Investment Operations Department Contact
Infrastructure and Energy Division
Investment type
Syndicated amount
N/A
Financing amount
USD $ 40,000,000
Currency
USD
Project scope and objective
Renewstable (Barbados) Inc. (“RSB”), a special purpose vehicle (SPV), will develop a power production facility at Harrow Plantation in St. Philip, Barbados which will provide firm capacity of 13 MW from 8am to 5pm and 8pm to 10 pm and 3MW for the remainder of the night. The electricity delivered will come from a 50 MWp Solar photovoltaic plant combined with an energy storage system using hydrogen technologies for long term storage and a li-ion battery system for short-term storage. The system will generate electricity from the photovoltaic solar park and feed into the national grid and in parallel convert water to hydrogen using an electrolyzer, store the hydrogen in the form of compressed gas and then produce firm power from the hydrogen using a fuel cell. This project is expected to fully contract its capacity through a 25-year Power Purchase Agreement (“PPA”) with the national grid operator- Barbados Light and Power Company (“BLPC”). In addition, the project will house a blackbelly sheep farm (the “Project”). Subject to due diligence, IDB Invest will provide a loan of up to US$35 million as a part of the syndicated debt for RSB. The project cost is approximately US$165 million, and the requested debt financing amount from RSB is up to US$132 million. The funds raised will be used to finance, build, and commission the Project.
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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.
RENEWSTABLE - ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS)
348.3 Kb
RENEWSTABLE - ENVIRONMENTAL AND SOCIAL ACTION PLAN (ESAP)
166.8 Kb
Client files
This section provides the key environmental and social assessment documents produced by the client for this project.
RENEWSTABLE POWER PLANT - ENVIRONMENTAL AND SOCIAL IMPACT ASSESSMENT (ESIA)
49.4 Mb
RENEWSTABLE POWER PLANT - SITE SELECTION ANALYSIS
1.8 Mb
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Contact information
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Client Contact
meshia.clarke@hdf-energy.com
PHONE NUMBER
+1 246 838-2342
POST OFFICE ADDRESS
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.
IDB Invest has zero tolerance to reprisal or retaliation against anybody who voices its opinion or opposition to IDB Invest-financed projects.
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Early disclosure
RENEWSTABLE BARBADOS POWER PLANT PROJECT
122.9 Kb