MEXICO CLIMATE ACTION FL - COAHUILA (EIB-20160865)

Countries
  • Mexico
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
Nacional Financiera SNC (NAFIN)
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)
$ 40.00 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.
Project Cost (USD)
$ 351.00 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.
Primary Source

Original disclosure @ EIB website

Updated in EWS Aug 9, 2017

Disclosed by Bank Apr 3, 2017


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

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.
From the EIB: The project concerns the construction of a 199.5 MW wind farm in Mexico. The wind farm comprises 95 wind turbine generators (WTGs), rated at 2.1 MW each, and associated infrastructure, including access roads, control centre and interconnection to the grid. The project aims to help meet the Mexican national target of 35% of electricity generated from renewable energy sources by 2024. It is also consistent with the EIB's objectives outside the European Union, contributing to the promotion of renewable energy generation, and will contribute to the attainment of the UN Sustainable Development Goal (SDG) on climate action. If the plant was located within the EU it 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. Following Mexican national legislation a full EIA is mandatory for the project. Due to the specificities of the land tenancy in Mexico and the vulnerability of certain groups, the social impact will be carefully assessed at appraisal. Compliance with the EIB's environmental and social standards, with national law and EU environmental and social principles with particular reference to EU environmental horizontal directives, stakeholder engagement, access to information and impact on biodiversity and cumulative impact will also be verified at appraisal.
Investment Description
Here you can find a list of individual development financial institutions that finance the project.
The project is an allocation under the Mexico Climate Action framework loan which will be intermediated by NAFIN (Nacional Financiera). The borrower is Nacional Financiera SNC (NAFIN), who will on-lend to an acceptable corporate. The proposed financing from the EIB is USD 40 million (EUR 37 million), part of a USD 351 million (EUR 328 million) project total.

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

How it works

How it works