Cardal-Punta del Tigre-Salto T-Line B Bond (IDBI-13377-01)

Countries
  • Uruguay
Where the impacts of the investment may be experienced.
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
May 6, 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
Tealov S.A.
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)
$ 54.00 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)
$ 66.00 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 Mar 5, 2021

Disclosed by Bank Feb 12, 2021


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Project Description


On December 2019 the Uruguayan National Utility of Electric Plants and Transmission Administration (Administración Nacional de Usinas y Trasmisiones Electricas, herafater “UTE") awarded Tealov S. A. the design and construction of: i) a 60 km long 500 kV transmission line (“TL”); ii) a 20 km 150 kV TL; iii) a 500 kV substation in Cardal (southern central Uruguay); and iv) ancillary works for existing lines and substations allowing the interconnection of the new Cardal substation (“the Project”). 




Tealov S. A. ("Tealov") is the Uruguayan special purpose vehicle (“SPV”) owned by Invenergy Transmission International Holdings LLC (both indirectly owned by Invenergy Investment Company LLC). Tealov and UTE have executed an Operating Lease Contract (“OLC") with the following scope: 20 year for a 500 kV substation, and 30 year for the 500 kV TL and the 150 kV TL. After the Project has reached its commercial operation, UTE will take over its operation and maintenance. 




Both transmission lines stretch across rural areas of the country, mainly used for agriculture and as grasslands to raise cattle. However, some stretches of the Cardal – Punta del Tigre TL intersect areas of conservation interest.  

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

The conttact information was not available at the time of the snapshot.