CONSORCIO EOLICO AMAYO (FMO-58617)

Countries
  • Nicaragua
Where the impacts of the investment may be experienced.
Specific Location
Province of Riva
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
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
Active
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.
Voting Date
Jul 15, 2020
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Wind Farm Electrical Generation Company
The holder of the loan, grant, or other investment.
Sectors
  • Energy
  • 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)
$ 0.12 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 0.10 MLN
Converted using 2020-09-16 exchange rate.
Primary Source

Original disclosure @ FMO website

Updated in EWS Sep 16, 2020


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Project Description

WHO IS OUR CLIENT

Wind Farm Electrical Generation Company of 23MW,is located in the department of Rivas, 129 kilometres south of Managua, capital of Nicaragua. The project generates 94 GWh/yr, contributing with 13% of the country's wind generation.

FUNDING OBJECTIVE

The project's aim is to support the client in expanding the humanitarian efforts they have extended to the community by a) providing adequate and reusable medical protection equipment to 1500 health professionals serving the clinics in the Rivas community, b) providing 40,000 people from the community with cleaning supplies and face masks and c) implementing a communication campaign within the community regarding the implementation of preventive measure.

WHY WE FUND THIS PROJECT

The current situation in Nicaragua is quite critical without any governmental support. Therefore, the impact would be high given there is currently no adequate medical equipment in health care centres. Further, the local communities are extremely poor and if the project would not take place, there is no other way they would get any support. Their level of vulnerability is quite high and more so in a country where the government is not taking any preventive measurements, so the project targets vulnerable communities and healthcare workers of clinics.

Investment Description
  • Netherlands Development Finance Company (FMO)
Private Actors
  • Wind Farm Electrical Generation Company -- Engineering and Construction Contract
Contact Information

ACCESS TO INFORMATION

As part of FMOÕs Òex-ante disclosureÓ (disclosure of transactions before contracting), you can send requests or questions for additional information to: disclosure@fmo.nl

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