Original disclosure @ IFC website
Updated in EWS May 13, 2022
Disclosed by Bank Apr 1, 2022
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Celsia Colombia S.A E.S.P. (“Celsia” or “the Company” - https://www.celsia.com/es/), is a vertically integrated utility and one of the largest private-sector energy companies in Colombia with hydro, solar and thermal generation as well as transmission, distribution, and energy commercialization. The proposed investment entails an up to US$140 million equivalent COP-linked, 5-year unsecured corporate revolving facility to IFC’s existing client, Celsia Colombia S.A E.S. P (formerly EPSA, “Celsia Colombia” or “the Company”). The proposed revolving facility could be used for: i) construction of renewable energy projects and/or acquisition of renewable energy assets; and (ii) financing of regulatory and maintenance capital expenditure on the transmission, distribution, and commercialization segments (the “project”). Under this revolving facility, any proposed investment opportunity will be presented to IFC together with the technical and environmental and social (E&S) due diligence conducted by experienced consultants. Accordingly, IFC will decide if: i) approve disbursement of the requested amount; ii) approve disbursement with the implementation of required actions determined by IFC; or iii) cannot provide funding for the proposed project under this facility; compliance with IFC Performance Standards being a key criterion in making this decision. As part of the candidate’s pipeline for this revolving facility, Celsia has several solar projects and two wind power projects under consideration. Celsia’s Solar projects are mostly located in 4 departments, in the North and South West of Colombia including Valle del Cauca, Tolima, Atlántico and Santander departments. The wind power projects in development, Camelia (270 MW) and Acacia 2 (91,2 MW) and its associated transmission lines, are in the department of La Guajira covering the municipalities of Maicao, Albania and Uribia.In February 2018, IFC financed Empresa de Energia del Pacifico S.A. ESP (EPSA)’s construction and commissioning of the first utility-scale, grid-connected solar power plants in Colombia with a combined installed capacity of 178,8 MWp at peak Publicly disclosed ESRS for this past investment is available at: https://disclosures.ifc.org/project-detail/ESRS/39800/dcm-epsa-green-bond.
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FOR INQUIRIES ABOUT THE PROJECT
Carlos Mario Isaza
Corporate Finance Leader
+ 574 32600 Ext. 14647
Cra 43A # 1A Sur – 143 Piso 5 Edificio Santillana Torre Sur, Medellín, Colombia
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