DESCRIPTION from the EIB
The project consists in the part-funding of three solar photovoltaic (PV) plants in Mexico, through a project finance scheme, with a combined capacity of 991 MW. The project is framed in the clean energy transition plan of Mexico. This is an important climate action project for the Bank's operations outside the EU, as it supports climate-related investments in developing countries.
If the solar photovoltaic plants were located within the EU they would fall under Annex II of the EIA Directive (Directive 2014/52/EU amending the EIA Directive 2011/92/EU), requiring the competent authorities to determine whether an Environmental Impact Assessment (EIA) is required. Following Mexican national legislation full EIA and Social Impact assessments are mandatory for such projects. Due to the specificities of the land tenancy in Mexico, the social impacts will be carefully assessed at appraisal. Compliance with the EIB's environmental and social standards and the principles of relevant EU Directives, will be verified at appraisal.
*Project contacts not available at the time of disclosure*
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