HIDRONORMANDIA S.A. (FMO-50485)

Countries
  • Ecuador
Where the impacts of the investment may be experienced.
Financial Institutions
  • Netherlands Development Finance Company (FMO)
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
A
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.
Investment Amount (USD)
$ 15.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ FMO website

Updated in EWS Jun 24, 2018


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

Project Description

WHO IS OUR CLIENT

Hidronormandia S.A is a special purpose vehicle incorporated in Ecuador to develop and construct a run-of-river hydroelectric power plant.

FUNDING OBJECTIVE

FMO's funding will be used to construct a 49.6 MW run-of-river hydroelectric power plant and an 85km transmission line. The project site is located on the Upano river in the South East of Ecuador near the city of Macas in the Morono Santiago province.

WHY WE FUND THIS PROJECT

The country of Ecuador is in need of additional power and incentivizes small and medium sized hydropower plants to be constructed. The project will supply renewable and low cost energy to the national grid. Long term debt financing is not readily available in Ecuador.

Investment Description
  • Netherlands Development Finance Company (FMO)
Contact Information

FMO
The Netherlands
+31 70 314 96 96
info@fmo.nl
Anna van Saksenlaan 71
2593 HW, The Hague
The Netherlands

FMO
South Africa
+27 11 507 2500
joburg-office@fmo.nl
Regent Place, 2nd Floor
Cradock Ave, Rosebank 2196
Johannesburg South Africa

ACCOUNTABILITY MECHANISM OF FMO

Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW) . A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism