Company name
Hidroeléctrica San Lorenzo S.A.
Project number
PN3755A-01
N/A
E&S category
N/A
Country
Panama
Sector
Energy
Status
In implementation
Disclosed date
07/18/2011
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
08/23/2011
Approval date
09/13/2011
Signed date
N/A
Sponsoring entity
N/A
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
USD $ 12,000,000
Financing amount
USD $ 21,000,000
Currency
N/A
Project scope and objective
The proposed investment in Hidroeléctrica San Lorenzo is for the construction of an 8.6-megawatt electric power plant generating approximately 40 gigawatt-hours per year. The project will be located in the Boca del Monte division (corregimiento) of San Lorenzo District, Chiriquí Province, close to the villages of Sábalo and Balita, 45 kilometers east of the city of David, on the banks of the Fonseca River. The power will be carried to the Chiriquí substation by a 12-kilometer power transmission line. The project entails constructing an unreglated run-of-the-river plant with minimal pondage at the penstock intake.
The main objective of the Hidroeléctrica San Lorenzo power plant is to supply Panama’s electric power grid with electricity at a reasonable cost, from a clean, renewable energy source such as a run-of-the-river hydroelectric power plant. The project qualifies for registration as a Clean Development Mechanism (CDM) project.
Hidroeléctrica San Lorenzo S.A. is a special-purpose vehicle set up by its sponsors, Messrs. Ignacio and Gerardo Cuerva Valdivia, in Panama. The project requires two 4.35-megawatt Kaplan turbines. The Spanish firm Baliño S.A. de España will supply and install the equipment. The construction firm will be Saret de Costa Rica. Part of the power will be sold to distributors in Panama through bidding processes, with another part to be sold on the open market. Hidroeléctrica San Lorenzo already has approval for dispatching its firm power.
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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
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.
For inquiries, comments and information requests about the project
Request informationLearn 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.
ENVIRONMENTAL AND SOCIAL REVIEW
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