Company name
Soleco Energy (Jamaica) Limited
Project number
13385-01
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
B
Country
Jamaica
Sector
Energy
Status
In implementation
Disclosed date
08/27/2021
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
12/17/2021
Approval date
12/17/2021
Signed date
12/31/2021
Sponsoring entity
Soleco Energy Limited
Investment Operations Department Contact
Portfolio Management Division
Investment type
Syndicated amount
USD $ 10,999,900
Financing amount
USD $ 13,333,200
Currency
USD
Project scope and objective
The proposed operation consists of the financing of: (i) the development, construction, operation and maintenance of a portfolio of distributed generation assets in Jamaica, including ground mounted, rooftop and carport solar photovoltaic (“PV”) installations as well as energy storage solutions and interconnection facilities (each, an “Installation”) with an initial aggregate generating capacity of approximately 11.25 mega-watt peak (“MWp”), which will be contracted with commercial and industrial clients through long-term lease contracts (“Phase I”); and (ii) a subsequent set of Installations for additional generation capacity following the same long-term leasing structure (“Phase II”). Together, (i) and (ii) are the “Project”. The construction period is expected to be no longer than 12 months. The Project developer, Soleco Energy Limited (“SEL” or the “Company”) manages the Engineering, Procurement and Construction (“EPC”) and Operations and Maintenance (“O&M”) works contracted to Grupotec Servicios Avanzados, S.A. (or “Grupotec”) for Phase I of the Project.
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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
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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.
SOLECO ENERGY LIMITED - ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS)
281.4 Kb
SOLECO ENERGY LIMITED - ENVIRONMENTAL AND SOCIAL ACTION PLAN (ESAP)
119.1 Kb