Puebla Solar PV (IDBI-12541-01)

Countries
  • Mexico
Where the impacts of the investment may be experienced.
Specific Location
Puebla
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
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
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
Alten Energias Renovables Mexico Siete, S.A. de C.V.
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)
$ 45.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 45.00 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 Nov 1, 2019

Disclosed by Bank Oct 28, 2019


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Project Description

The Puebla Solar Photo-Voltaic (PV) Project (“the Project”) consists of the design, construction, commissioning, operation and maintenance of a 250MWAC PV solar power plant in the state of Puebla, México; and all associated transmission and interconnection facilities, which include a transmission line (TL) of up to 6 km. from the lift substation, to the interconnection substation with the Transmission System network. The financial plan is expected to be completed with co-loans from other commercial and development banks.

People Affected By This Project

The Project consists of the design, construction, commissioning and operation of a 250 megawatt (MW) solar photo-voltaic (PV) plant, that will be connected to the Mexican Comision Federal de Electricidad ("CFE") national grid system through a 6 km transmission line (TL), and all the associated transmission and interconnection facilities. The Project has a 30-year life expectancy for energy production.

The Project is developed by Alten Energias Renovables Mexico Siete, S.A. de C.V. ("Alten" or the "Company"), a special purpose vehicle organized under the laws of Mexico and it will be owned by Sojitz Global Investment (SGI), Alten RE Developments America 3, B.V. ("AAM3") and Alten Renewable Energy Developments, B.V. ("Alten Corp."). All SGI, AAM3 and Alten Corp. "the Sponsors".

IDB Invest together with RINA Consulting INC., as the Independent Environmental and Social Consultants (IESC), and environmental and social (E&S) officers of Bancomext and ING reviewed, among other documents provided by the Company, the following : i) environmental permits; ii) Environmental Impact Assessment (Manifestacion de Impacto Ambiental Regional -MIA-R); and iii) Social Impact Assessment (Evaluacion de Impacto Social - EvIS). The Environmental and Social Due Diligence (ESDD) process included a field appraisal mission conducted between July 16 and July 18, 2019. During the ESDD several meetings where conducted both in Alten's Corporate office in Mexico City, and in the Project's site and its area of influence. with the Project site's owners and other stakeholders, including representatives of the Municipality of Tepeyahualco.

Investment Description
  • IDB Invest (IDBI)
Private Actors
Contact Information

Carlos Castellanos Beraza
Chief Executive Officer
Email:
carlos.castellanos@alten-energy.com
Telephone: (+39) 91-5630990

 

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).