Company name
Wind Power Energia S.A. (“WPE”)
Project number
BR3771A-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
Manufacturing
Status
In implementation
Disclosed date
06/29/2012
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
07/31/2012
Approval date
09/11/2012
Signed date
09/24/2012
Sponsoring entity
Industrias Metalúrgicas Pescarmona S.A. (IMPSA), Argentina
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
N/A
Financing amount
USD $ 7,000,000
Currency
USD
Project scope and objective
Wind Power Energia S.A. (WPE) is a member of Grupo IMPSA, which has designed, produced, and marketed high-capacity wind power equipment in Cabo de Santo Agostinho, Pernambuco State, Brazil, since September 2008.
WPE also provides construction services, including the assembly and installation of generators, electrical components, and other industrial equipment for the energy sector. It has an annual production capacity of 300 wind power generators and is in the process of expanding to increase that number to 500 and to begin manufacturing electromechanical equipment in Pernambuco for hydroelectric power plants.
WPE primarily supplies wind farms in Brazil and, depending on the demand, may begin to supply wind farms in Argentina, Chile, Uruguay, and other locations. It is the only company in Latin America with the technology to produce this kind of equipment. The assembly of domestic and imported parts at its manufacturing plant in Recife currently involves a heavy workload for the company’s electrical engineers.
The purpose of this IIC operation is to provide WPE with working capital financing, given the growth it is experiencing in the production of wind power equipment.
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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.
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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
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