FRV Potrero Solar, S. de R.L. de C.V. (IFC-41297)

Countries
  • Mexico
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
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
B
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.
Borrower
FRV POTRERO SOLAR S. DE R.L. DE C.V.
The holder of the loan, grant, or other investment.
Sectors
  • 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)
$ 56.00 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)
$ 250.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Nov 23, 2018

Disclosed by Bank Nov 2, 2018


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Project Description

According to the bank, Potrero (“the project”) is a large-scale greenfield 270 MWac (297 MWdc) solar photovoltaic renewable energy powerplant in the Mexican state of Jalisco. The project will install and operate solar panels, generation blocks, voltage stations, a substation, and a less than1.0 Kilometre transmission line to connect to an existing 400 kV transmission line. The project site is located in a rural area characterized by large and small dairy and poultry farms (with some irrigated agriculture), approximately 15 kM southwest of the city of Lagos de Moreno. The project has been developed by FRV Potrero Solar S. de R.L. de C.V. (“FRV Potrero” or the “Company”), a special purpose vehicle formed by FRV Solar Holdings VI, BV and FRV Solar Holdings III, BV which are both owned by FRV BV (the “Sponsor”), a reputable renewable energy developer, and existing IFC client (e.g. FRV Jordan, IFC project #36877). The Project cost is estimated at US$250 million. IFC is considering providing an A/B loan for up to US$65 million to support financing of the Project.At the time of IFC appraisal in August 2018, FRV Potrero was negotiating with the firm PRODIEL - an experienced international technology company specializing in renewable energy and environmental management - to act as Engineering, Procurement and Construction (EPC) contractor. PRODIEL will manage construction activities and associated environmental and social (E&S) impacts, while their joint venture partner for the Potrero project, Power China will provide financial and procurement support in compliance with contractual obligations. FRV Potrero anticipates that with a peak construction workforce of between 600 to 800 workers, they can start selling energy in early 2020.

Investment Description
  • International Finance Corporation (IFC)
Private Actors
Contact Information

ACCOUNTABILITY MECHANISM OF IFC

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