Electricity Tariff Stabilization Liquidity Facility (IDBI-12111-02)

Countries
  • Chile
Where the impacts of the investment may be experienced.
Financial Institutions
  • IDB Invest (IDBI)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
C
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Aug 25, 2020
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Aela Generacion; AES Gener; Cerro Dominador; Colbun; Chungungo; Empresa Electrica Caren;
The holder of the loan, grant, or other investment.
Sectors
  • Finance
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, etc.
Investment Amount (USD)
$ 1.08 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ IDBI website

Updated in EWS Jul 20, 2020

Disclosed by Bank Jul 16, 2020


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Contact the EWS Team

Project Description
<div class="block">This operation (the "Operation" or the "Project") is intended to provide a liquidity facility to a group of companies comprising Aela Generaci&oacute;n S.A.; AES Gener S.A.; Cerro Dominador CSP S.A.; Colb&uacute;n S.A.; Chungungo S.A.; Empresa El&eacute;ctrica Caren S.A.; Empresa El&eacute;ctrica de Panguipulli S.A.; Enel Generaci&oacute;n S.A.; Engie Energ&iacute;a Chile S.A.; E&oacute;lica Monte Redondo S.A.; GM Holdings S.A.; Guacolda Energ&iacute;a S.A.; Norvind S.A.; San Juan S.A.; and Santiago Solar S.A.; (the "Clients" or the "Companies") to counter the repercussions in the economic environment generated by the Tariff Stability Law and the lack of liquidity they are experiencing as a result of the postponement of payment of part of the energy purchase agreement (PPA)&nbsp; price set forth in said law.&nbsp;&nbsp;The funds of the Operation will be used exclusively to acquire receivables associated with the stabilization mechanism established by the aforementioned Law. <div class="intro-frame block-wysiwyg"> <div>&nbsp;</div> </div> </div>
Investment Description
  • IDB Invest (IDBI)
Private Actors
Contact Information

For Project inquiries please contact the Clients:

AELA Generacion S.A.
Nombre: Adrian Ratner
Titulo: Chief Financial Officer
Numero de Telefono: +56 2 2486 2600
Correo Electronico:
adrian.ratner@aelaenergia.cl

AES Gener S.A.; y Guacolda Energia S.A.
Nombre: Felix Gomez
Titulo: Corporate Finance Manager
Numero de Telefono: +56 2 2686 8567
Correo Electronico:
felix.gomez@aes.com

Cerro Dominador CSP S.A.
Nombre: Fernando Gonzalez
Titulo: CEO
Numero de telefono: +1 (202) 600-3372
Correo electronico:
Fernando.Gonzalez@CerroDominador.com

Colbun S.A.
Nombre: Sebastian Moraga
Titulo: Chief Financial Officer
Numero de telefono: +56 2 2460 4020
Correo electronico:
smoraga@colbun.cl

Chungungo S.A.
Nombre: Alfredo Solar
Titulo: Gerente General
Numero de telefono: +56 2 2611 8300
Correo electronico:
asolar@atlasren.com

Parque Eolico Taltal SpA.; Enel Generacion Chile S.A.; y Enel Green Power Chile S.A.
Nombre: Isabela Klemes
Titulo: Head of Investor Relation Enel Chile Group
Numero de telefono: +56 2 2353 4682
Correo electronico:
isabela.klemes@enel.com

Engie Energia Chile S.A.; y Eolica Monte Redondo SpA.
Nombre: Eduardo Milligan
Titulo: CFO
Numero de telefono: +56 2 2353 3275
Correo electronico:
eduardo.milligan@engie.com

GM Holdings S.A.
Nombre: Angus Blackburn
Titulo: Chief Financial Officer
Numero de telefono: +56 2 2391 1100
Correo electronico:
ablackburn@generadora.cl

Empresa Electrica Caren S.A.; San Juan S.A.; y Norvind S.A.
Nombre: Esteban Moraga
Titulo: Chief Financial Officer
Numero de telefono: +56 2 2820 3200
Correo electronico:
esteban.moraga@latampower.com

Santiago Solar S.A.
Nombre: Ignacio Hernandez Amezquita
Titulo: CFO - AME SpA
Numero de telefono: +56 2 2896 8900
Correo electronico:
ignacio.hernandez@ame.cl

ACCOUNTABILITY MECHANISM OF IADB

The Independent Consultation and Investigation Mechanism (MICI) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an Inter-American Development Bank (IDB) or Inter-American Investment Corporation (IIC)-funded project. If you submit a complaint to MICI, they may assist you in addressing the problems you raised through a dispute-resolution process with those implementing the project and/or through an investigation to assess whether the IDB or IIC is following its own policies for preventing or mitigating harm to people or the environment. You can submit a complaint by sending an email to MICI@iadb.org. You can learn more about the MICI and how to file a complaint at http://www.iadb.org/en/mici/mici,1752.html (in English) or http://www.iadb.org/es/mici/mici,1752.html (Spanish).