MEXICO CLIMATE ACTION FL (EIB-20160534)

Countries
  • Mexico
Where the impacts of the investment may be experienced.
Specific Location
No specific location
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
  • 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
Approved
Bank Risk Rating
U
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
Mar 25, 2017
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.
Sectors
  • Climate and Environment
  • Energy
  • Infrastructure
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)
Not Disclosed
When disclosed, the bank did not provide this value. Please review updated project documents for more information.
Primary Source

Original disclosure @ EIB website

Updated in EWS Jun 21, 2017

Disclosed by Bank Dec 14, 2016


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Project Description
The framework loan will support renewable energy projects in Mexico. The financial intermediary has presented a preliminary portfolio composed of two wind farms. The operation comprises the construction and operation of renewable energy plants in Mexico. The project aims to support Mexico's National Climate Change Strategy 10-20-40 Vision, which has the goal of generating 35% of total electricity from clean sources by 2024. Environmental aspects: If the plants were located within the EU they would fall under Annex II of the Environmental Impact Assessment (EIA) Directive (2011/92/EU), requiring the competent authorities to determine whether an EIA is required. In Mexico full EIA and social impact assessment are mandatory for both projects. Due to the specificities of the land tenancy in Mexico and the sensitivity of certain groups, the social impact will be carefully assessed at appraisal. Compliance with the EIB's environmental and social standards and, among other things, the principles of relevant EU directives, will be verified at appraisal.
Investment Description
  • European Investment Bank (EIB)
Contact Information
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