According to the Inter-American Development Bank Invest (IDB Invest), formerly the Inter-American Investment Corporation (IIC), the objective of the Project is to provide a financing mechanism for a pool of small scale photovoltaic (PV) solar projects in Mexico. Multiple Mexican solar developers will originate, sell, operate, maintain, and service the PV solar projects on residential, industrial, and commercial properties in Mexico (the "PV systems" or "sub projects"). This transaction will enable the financing of the purchase of the PV systems.The IIC Project financing will be provided in two steps: (i) an Accumulation Stage, in which the IDB and IIC will provide a senior revolving loan, which is expected to include a revolving B loan, to the Warehousing Trust with the aim of purchasing and accumulating credit rights arising from the purchased PV systems (the "Warehousing Loan"); and (ii) a Mobilization Stage, in which the IIC will provide one or more PCGs to support the securitization of these credit rights in local capital markets. The PCGs are expected to support the issuance of up to three Securitization Cycles: one issuance every 24 months.The Project may receive financial support from the Clean Technology Fund ("CTF") in the form of a PCG to support the Warehousing Loan during the Accumulation Stage.
The IDB Invest has changed the page location. The disclosure is now available at https://www.iic.org/en/projects/mexico/12224-01/solar-rooftop-4all.
Contact information not provided at the time of disclosure.
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).