La Pimienta A/B Bond Solar Project (IDBI-12893-01)

Countries
  • Mexico
Where the impacts of the investment may be experienced.
Specific Location
Campeche
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
Jul 14, 2020
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
La Pimienta Solar S. de R.L. 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)
$ 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)
$ 80.00 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 Apr 30, 2020

Disclosed by Bank Apr 28, 2020


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Project Description

The La Pimienta A/B Bond Solar Project consists of the design, construction, commissioning, operation and maintenance of approximately 444 megawatt-peak ("MWp") solar power plant in the state of Campeche, Mexico; and all associated transmission and interconnection facilities, which include a transmission line (TL) of up to 2.17 km. from the lift substation, to the interconnection substation with the Transmission System network ("the Project"). The Project is being developed by Atlas Renewable Energy.

It is expected that IDB Invest financing will be complemented with a long-term loan up to USD 30 million with the same terms and conditions of the IDB Invest A-loan as well as other credit lines to be provided by Bancomext.

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

For inquiries about the Project,
Contact: Maria Jose Cortes Loreto
Head of Environmental & Social Governance
Email:
pimienta@proyectolapimienta.com
Telephone: (+52) 55 7252-2000

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).