El Canada Hydroelectric Project (IFC-11444)

Countries
  • Guatemala
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Completed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Jun 26, 2002
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Generadora de Occidente Limitada
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Hydropower
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 15.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Loan Amount (USD)
$ 15.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Campaign Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Jun 15, 2023

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

The project is located 12 km south of Quetzaltenango Municipality and approximately 200 km west of Guatemala City. El Canadá will be constructed immediately down-stream of the existing Santa María hydroelectric plant on the Samalá River. Diverted tailrace from the Santa María station will flow through a 1.2 km tunnel to a 184,000 m3 five-hour peaking reservoir. Water stored in the reservoir will flow to a powerhouse situated on the Samalá River. The 43 MW of gross capacity will be produced by two Pelton turbines.

Developmental impacts are expected to include: (i) support of an innovative financing structure that will reinforce a competitive market and attract long-term investment; (ii) improvement in sector efficiency through enhanced price stability; and (iii) demonstration, both nationally and regionally, that renewable energy can attract competitive financing.

IFC''s role in the project is the support of Guatemala''s power sector reform and the investment of long-term debt in an innovative power project.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Juan Carlos Mendez, Project Director
Energía Global International, Ltd
Centro Gerencial Las Margaritas, Torre I Oficina 801, Zona 10
Guatemala City, Guatemala
Email: jcmendez@energiaglobal.com

 

ACCESS TO INFORMATION

 

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries

 

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

 

ACCOUNTABILITY MECHANISM OF IFC/MIGA

 

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org

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