Energia del Pacifico LNG Thermo Power Project (IDBI-12771-01)

Countries
  • El Salvador
Where the impacts of the investment may be experienced.
Specific Location
Acajutla
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
A
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
Sep 17, 2019
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
Energia del Pacifico, Ltda. 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)
$ 115.00 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)
$ 850.00 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 Oct 28, 2019

Disclosed by Bank May 14, 2019


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Project Description

The project (the “Project”) involves the construction and operation of 1) a 378-megawatt (MW) thermal power plant at the port of Acajutla in the Department of Sonsonate in El Salvador (the “Power Plant”), 2) a marine terminal, consisting of a floating storage and regasification unit (the “FSRU”) permanently moored through a modified spread mooring system for liquified natural gas (LNG) delivery, storage, and regasification, as well as a natural gas pipeline that will run from the FSRU to the power plant (the “Pipeline”) and 3) the construction of a 44 km, 230 kilovolt (kV) transmission line and related substations to connect the power plant to the electrical grid of El Salvador. The Power Plant will be located in a brownfield port and industrial area in the municipality of Acajutla, in premises secured under a 24-year lease agreement with the Executive Commission of the Port of Acajutla (CEPA), who owns and manages the port. Financing from IDB Invest will be direct to Energía del Pacífico, Ltda. de C.V., who will develop the Project. The FSRU will not be part of this financing.

Investment Description
  • IDB Invest (IDBI)

IDB Invest will seek approval from China Fund for USD 50,000,000.

Private Actors
Contact Information

Meghan Schultz
Senior Vice President, Finance & Capital Markets
Invenergy LLC

mschultz@invenergyllc.com

 

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).