CHILE CCFL - SAN PEDRO (EIB-20150057)

Countries
  • Chile
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • European Investment Bank (EIB)
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
U
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."
Borrower
Jealsa Ranxeira and Grupo Baztán
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)
Not Disclosed
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.
Primary Source

Original disclosure @ EIB website

Updated in EWS Nov 3, 2017

Disclosed by Bank Feb 8, 2017


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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 is an allocation under the Chile Climate Change Framework Loan (CCFL). It consists of the construction and operation of a 36 MW onshore wind farm in Los Lagos region in Chile, including a 22 km connection line to the transmission system. The project, if located in the EU, would fall under Annex II of the Environmental Impact Assessment (EIA) Directive leaving to the competent authority the decision as to whether an EIA is required or not. According to the applicable Chilean law, power plants with a capacity beyond 3 MW require an environmental impact study (EIS). The competent authority decides whether the project requires an EIA on the basis of a set of predefined criteria. In this case, the project underwent an EIS, which concluded that the project does not have any significant negative environmental or social impact. Environmental aspects The project, if located in the EU, would fall under Annex II of the Environmental Impact Assessment (EIA) Directive leaving to the competent authority the decision as to whether an EIA is required or not. According to the applicable Chilean law, power plants with a capacity beyond 3 MW require an environmental impact study (EIS). The competent authority decides whether the project requires an EIA on the basis of a set of predefined criteria. In this case, the project underwent an EIS, which concluded that the project does not have any significant negative environmental or social impact.
Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Proposed EIB finance (Approximate amount) EUR 20 million Total cost (Approximate amount) EUR 66 million

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.
ACCOUNTABILITY MECHANISM OF EIB The EIB Complaints Mechanism is designed to facilitate and handle complaints against the EIB by individuals, organizations or corporations affected by EIB activities. When exercising the right to lodge a complaint against the EIB, any member of the public has access to a two-tier procedure, one internal - the Complaints Mechanism Office - and one external - the European Ombudsman. A complaint can be lodged via a written communication addressed to the Secretary General of the EIB, via email to the dedicated email address complaints@eib.org, by completing the online complaint form available at the following address: http://www.eib.org/complaints/form, via fax or delivered directly to the EIB Complaints Mechanism Division, any EIB local representation office or any EIB staff. For further details, check: http://www.eib.org/attachments/strategies/complaints_mechanism_policy_en.pdf When dissatisfied with a complaint to the EIB Complaints Mechanism, citizens can then turn towards the European Ombudsman. A memorandum of Understanding has been signed between the EIB and the European Ombudsman establishes that citizens (even outside of the EU if the Ombudsman finds their complaint justified) can turn towards the Ombudsman on issues related to 'maladministration' by the EIB. Note that before going to the Ombudsman, an attempt must be made to resolve the case by contacting the EIB. In addition, the complaint must be made within two years of the date when the facts on which your complaint is based became known to you. You can write to the Ombudsman in any of the languages of the European Union. Additional details, including filing requirements and complaint forms, are available at: http://www.ombudsman.europa.eu/atyourservice/interactiveguide.faces

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