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According to the Bank’s website, the proposed investment consists of an unsecured corporate facility of up to US$600 million (up to US$250 million from IFC's own account and up to US $350 million mobilization) to ENGIE Energia Peru S.A. (“EEP”), to support the Company in achieving its transformational non-conventional renewable energy (NCRE) target for the next five years. The facility will be structured as Sustainability Linked Loan and the first loan of the facility has a total amount of US$ 120 million. The proceeds of the loan will (i) refinance the investment to acquire Duna and Huambos, two operating wind farms of 36.8MW in total, (ii) finance the development and construction of a 51.4 MW solar plant expansion, Intipampa, and (iii) refinance the development and construction of a 26.5MW BESS, currently under operation.
This is a category A project. Key environmental and social (E&S) risks and issues include: (i) Effective implementation of the corporate ESHS standards, (ii) company and project-level organizational capacity to assess and manage ESHS risks; (iii) labor, working conditions and grievance mechanism, (iv) contractor and supply chain EHS management, (v) OHS management; LFS and emergency preparedness and response, (vi) pollution prevention and waste management, (vii) community health and safety and security,(viii) land acquisition and involuntary resettlement, (ix) sensitive and high-value biodiversity, and (x), company's stakeholder engagement activities related to management of E&S aspects and its grievance mechanism.
The project cost related to the first tranche is estimated at US$120 million. The proposed IFC investment for the first tranche is a US $120 million Sustainability-Linked A loan for IFC's own account.
ENGIE Energia Peru S.A. is the third largest private electricity generation company in terms of generation and the largest in terms of installed capacity in Peru, with a total of 2,694 MW of installed capacity (10 generation plants), which represented 14% of the energy production and 19% of installed capacity in 2024 in Peru. EEP is controlled by ENGIE S.A, one of the world's largest independent energy producers, with an installed capacity of 104.7 GW.
Private Actor 1 | Private Actor 1 Role | Private Actor 1 Sector | Relation | Private Actor 2 | Private Actor 2 Role | Private Actor 2 Sector |
---|---|---|---|---|---|---|
- | - | - | - | ENGIE Energia Peru SA | Client | - |
ENGIE Energia Peru S.A.
Mario Spelucin
Head of Corporate Finance
+51 950 689 581
mario.spelucin@engie.com
Av. República de Panamá 3490 San Isidro – Lima
https://engie-energia.pe/
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