Lucayas Solar Power Project (IDBI-12698-01)

Countries
  • Bahamas
Where the impacts of the investment may be experienced.
Specific Location
Freeport
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.
Voting Date
Dec 14, 2021
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
Lucayas Solar Power Ltd.
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)
$ 12.00 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 Sep 30, 2021

Disclosed by Bank Sep 21, 2021


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Project Description

The proposed operation consists of the financing of the development, construction, operation, and maintenance of an 11 Mega-Watt peak (MWp) photovoltaic (PV) solar farm in Freeport, Grand Bahama, The Bahamas. Solar PV arrays and interconnection facilities (together an "Installation") will be developed in two locations within Freeport (the "Project"). The size and locations of the Installations are: (i) a 4.98 MWp solar array in Devon and (ii) a 6.01MWp solar array in Fairfield. The construction period is expected to be no longer than 12 months. Lucayas Solar Power Limited ("LSP" or the "Company") will contract as the Engineering, Procurement and Construction (EPC) for the Project a consortium formed by Ventus Ingenieria SRL and Osprey Construction LTD (together the "EPC Contractor") and it will be also in charge of its Operations and Maintenance phase . The Project will be grid-tied, and the off taker will be the Grand Bahama Power Company.

Investment Description
Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
Osprey Construction LTD Contractor Construction contracts with Lucaya Solar Power Ltd Investor Energy
Ventus Ingenieria SRL Contractor Energy contracts with Lucaya Solar Power Ltd Investor Energy

Contact Information

EMAIL: requestinformation@idbinvest.org

PHONE: +1(202)-566-4566

ADDRESS: 1350 New York Ave NW, Washington, DC 20005

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://www.iadb.org/en/access-information/information-request

ACCOUNTABILITY MECHANISM OF IDB / IDB INVEST

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 (IDB Invest)-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 IDB Invest 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).