PV Llanos 3 (IDBI-13420-01)

Countries
  • Colombia
Geographic location where the impacts of the investment may be experienced.
Specific Location
Departamento de Villavicencio, Puerto Gaitán
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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Jun 14, 2021
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Bosques Solares de los Llanos 1, S.A.S. E.S.P Bosques Solares de los Llanos 2, S.A.S. E.S.P
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 31.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ IDBI website

Updated in EWS May 11, 2021

Disclosed by Bank May 10, 2021

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

The project consists of the provision of long-term financing for three 81.7 megawatt peak ("MWp") photovoltaic power plants from Matrix Renewables Colombia S.A.S (the "Sponsor"). The plants are located in the Department of Villavicencio, Puerto Gaitán, Colombia (the "Project"). The Project will sell 100% of the energy generated through a 15-year bilateral purchase agreement with Vatia S.A. E.S.P.

IDB Invest will participate in the financing for an approximate amount of USD 31 million equivalent for a term of up to 18 years. IDB Invest will mobilize mixed financing resources for the subordinate tranche for the subordinate tranche. A commercial bank loan will complete the financing. Through this operation, IDB Invest seeks to contribute to the Colombian government's objective of diversifying and improving the security of the country's energy matrix, through the development of renewable solar energy sources.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
Vatia S.A. ESP Client Energy contracts with Matrix Renewables Colombia S.A.S. Investor Energy

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

The contact information was not available at the moment of the snapshot.

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How it works