Company name
Copacabana Geração de Energia em Participações S.A.
Project number
11994-02
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
B
Country
Brazil
Sector
Energy
Status
Inactive
Disclosed date
08/21/2017
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
11/21/2017
Approval date
04/03/2018
Signed date
N/A
Sponsoring entity
Rio Energy Fundo de Investimento em Participações Multiestratégia
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
N/A
Financing amount
USD $ 66,297,000
Currency
BRL
Project scope and objective
The Inter-American Investment Corporation and the Inter-American Development Bank are considering providing a credit guarantee to secure payment obligations under a debt instrument in an amount of approximately R$200 million. The project consists of the design, construction, operation and maintenance of the wind cluster of “Eólica Serra da Babilônia”, which consists of eight (8) adjacent wind farms totaling 223.25 MW of capacity in the state of Bahia, located in the Northeast of Brazil and the construction of a 75km transmission line (the “Project”). The Project is being developed by eight (8) Special Purpose Enterprises created under Brazilian law for the specific purpose of the development of the Project, under the control of Copacabana Geração de Energia em Participações S.A. The sponsor of the Project is Rio Energy Fundo de Investimento em Participações Multiestratégia and was awarded a 20-year inflation indexed Power Purchase Agreement by the Câmara de Comercialização de Energia Elétrica.
The Project is expected to achieve the following development results: (i) increase installed capacity of non-conventional renewable energy with the addition of 223.25 MW of wind power to the current wind installed capacity of 11,7 GW, which contributes to the Government of Brazil’s objectives of diversifying its energy matrix, adding an additional source of renewable energy and reducing vulnerability to changes in hydrology; (ii) generate approximately 870 GWh of clean wind energy and contribute to the avoidance of approximately 763,801 tons of carbon emissions per year; and (iii) increase private sector participation and competition in the electricity market through the support of an independent private developer.
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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 OfficesFor inquiries, comments and information requests about 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.
ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY
30.6 Kb
ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS) - SERRA DA BABILÔNIA
237.3 Kb