Energia de Celaya S.A. de C.V. (MIGA-14498)

Countries
  • Mexico
Where the impacts of the investment may be experienced.
Specific Location
Guanajuato
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
  • Multilateral Investment Guarantee Agency (MIGA)
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
Jan 8, 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
Fisterra Energy Holdings LP, or one of its affiliates
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)
Guarantee
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 172.00 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)
$ 172.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Bank Documents
Primary Source

Original disclosure @ MIGA website

Updated in EWS Apr 2, 2020

Disclosed by Bank Nov 8, 2019


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Project Description

This summary covers an application made by Fisterra to cover its equity investment in Energia de Celaya,S.A. de CV(the Project) in the Republic of Mexico. MIGA coverage has been sought for up to US$172 against the risk of transfer restriction, expropriation, war and civil disturbance, and breach of contract for a tenor of up to 15 years.

The Project comprises the development, construction, and operation & maintenance of a combined cycle gas turbine power plant with a total net capacity of 1.3GW. The project location is in Cortazar Municipality in the State of Guanajuato, approximately 200 km northwest of Mexico City. The Project will also include the construction of a 5 km 400kV transmission line, and a 4 km 230kV transmission line, connecting the Project's substation to the existing transmission network owned and operated by the Federal Electricity Commission and a private offtaker.The Project will be connected to the natural gas pipeline Ramal Salamanca through a 11km pipeline being developed by a third party (Gaseoducto de Cortazar, S.R.L. de C.V.). The Project also has access to gas through a secondary pipeline which crosses the south portion of the Project site.

 

Investment Description
  • Multilateral Investment Guarantee Agency (MIGA)
Private Actors
Contact Information

ACCOUNTABILITY MECHANISM OF MIGA

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/