Parque Arauco Wind Projects (IDBI-12133-01)

Countries
  • Argentina
Where the impacts of the investment may be experienced.
Financial Institutions
  • IDB Invest
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
B
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.
Borrower
Vientos de Arauco Renovables SAU y Arauco Renovables SAU
The holder of the loan, grant, or other investment.
Sectors
  • Energy
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)
$ 50.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 50.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IDBI website

Updated in EWS Dec 14, 2018

Disclosed by Bank Mar 7, 2018


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Project Description

The Inter-American Investment Corporation ("BID Invest") is considering the granting of a loan to support the construction of (a) Phases 1 and 2 of the Arauco II Wind Project, a wind farm of approximately 99.75 MW of installed capacity. part of Vientos de Arauco Renovables SAU - a specific purpose company -, (b) Phases 3 and 4 of the Arauco II Wind Project, a wind farm of approximately 95 MW of installed capacity by Arauco Renovables SAU - a specific purpose company ( both parks will be located in the same location as the current ones, Arauco I) and (c) a high voltage transmission line of 83 kilometers (132 kV) to connect the plants of the Arauco II Wind Project to the La Rioja distribution transformer station South that connects with the national network.

People Affected By This Project

The Project has been preliminarily classified as Category B (Medium Risk) according to the IIC's Environmental and Social Sustainability Policy. The project categorization will be confirmed based on the results of the environmental and social due diligence, when more information is available.

The Project prepared an Environmental Impact Assessment (EIA) study for the wind farm and other EIA study for the transmission lines and auxiliary facilities. Both EIA studies have been approved by the corresponding environmental authorities.

Land acquisition and easement rights documentation, together with other authorizations and permits, will be reviewed during the environmental and social due diligence (ESDD).

The risks associated with the construction stage of the Project are mostly localized and can be managed with readily available best practices and mitigation measures. Examples of such impacts are potential social impacts caused by transportation of electro mechanicals components by truck from a port to the project site; potential soil and water contamination caused by inappropriate solid and liquid wastes management and pluvial erosion of soil caused by inadequate erosion management.

The main risks at the operation stage are those associated with noise, shadow flicker collision of birds and bats with blades of wind generators.

IIC has engaged the support of specialized consultants for the Environmental and Social Due Diligence (ESDD) to ensure the Project meets the requirements of the IIC Environmental and Social Sustainability Policy, consider possible cumulative impacts, confirm the project categorization, determine the need of further studies (such as additional bird and bat monitoring), evaluate consultation and disclosure efforts, assess management capacity and management systems to mitigate E&S risks and prepare an environmental and social action plan (ESAP) to address identified gaps. The ESAP will include E&S requirements for contractors, stakeholder engagement plans and management and supervision capacity from the owner.

An Environmental and Social Review Summary (ESRS) and the ESAP will be posted on the IIC's website once the due diligence process is concluded.

Investment Description
  • IDB Invest
Private Actors
  • Arauco Renovables SAU -- Unknown
  • Vientos de Arauco Renovables SAU -- Unknown
Contact Information

Sr. Arq. Fernando Carbel
CEO - Parque Arauco SAPEM
Phone: +54 3804 431439
Email:
jfcarbel@peasapem.com

 

ACCOUNTABILITY MECHANISM OF IIC

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).

For inquiries and comments to IIC, contact:
IIC’s Communications Group
E-mail: divulgacionpublica@iadb.org

For project inquiries, including environmental and social questions related to an IIC investment, please contact the client or the IIC using the contact information provided above. In addition, project affected communities have access to the IIC Independent Consultation and Investigation Mechanism.
Tel:+1 (202) 623-3952
Fax: +1 (202) 312-4057
Address: 1300 New York Ave. NW Washington, DC. USA. 20577
E-mail: mecanismo@iadb.org or MICI@iadb.org