Acciona Financiacion Filiales S.A. (FMO-64175)

Countries
  • Peru
Geographic location where the impacts of the investment may be experienced.
Specific Location
Peru
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
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
A
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Dec 23, 2024
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Acciona Financiación Filiales, S.A.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
  • Finance
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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 95.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 600.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ FMO website

Updated in EWS Jul 30, 2025

Disclosed by Bank Oct 29, 2024

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the Bank’s website, the transaction consists of a USD 95 mln B-loan behind IFC, to participate in an unsecured corporate facility to Acciona Financiacion Filiales, S.A. ("AFF"), with a tenor of 7 years. The transaction is fully guaranteed by Acciona S.A.

The total financing of the project is estimated at USD 600 mln. FMO is participating as a B-lender under the IFC facility with an amount of USD 95 mln. The financing proceeds are used to finance three power transmission projects in Peru (increasing the capacity of existing transmission lines, building new transmission line capacity, and building new substations).

The three projects in Peru contribute to decarbonizing the country's energy mix by increasing the penetration of renewables, which is still heavily reliant on fossil fuels (38% of electricity production in 2021). One of the projects is in southern Peru, a region with strong renewable resources but is experiencing curtailment. The other two projects are in the north, which is a low-income, isolated region that still relies on diesel for grid stability. The transmission lines will allow an increased flow of energy in the Peru-Ecuador interconnection system. As such, the transaction fits well with the transmission & distribution strategy by increasing FMO's investments in the electricity transmission sector. The FMO Green Label was approved for the transaction.

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

FMO's E&S category for this transaction is A, reflecting key environmental and social (E&S) risks related to potential impacts to communities and economic displacement due to land use change in the transmission lines in Peru, and potential biodiversity impacts through bird collisions. According to the information currently available, the following IFC Performance Standards are triggered: PS 1: Assessment and Management of Environmental and Social Risks and Impacts, PS 2: Labor and Working Conditions, PS 3: Resource Efficiency and Pollution Prevention, PS 4: Community Health, Safety, and Security, PS 5: Land acquisition and involuntary resettlement, PS 6: Biodiversity conservation and sustainable management of living natural resources, and PS 8: Cultural Heritage. IFC PS 7 (Indigenous Peoples) is not triggered as the projects are not expected to affect Indigenous Peoples in the area.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

The total financing of the project is estimated at USD 600 mln. FMO is participating as a B-lender under the IFC facility with an amount of USD 95 mln.

Funding: FMO NV

Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

Acciona S.A. is a large Spanish corporation (listed in the IBEX 35 index; EUR 6.5 bln market capitalization) and has maintained its investment grade rating for the past 10+ years. Acciona Financiación Filiales, S.A. is a financial holding company based in Spain that was set up to raise financing and provide funding to sub-holdings of the Group.

The transaction is fully guaranteed by Acciona S.A., rated BBB (low) stable by DBRS Morningstar (2024).

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Acciona Financiacion Filiales S.A. Client -
- - - - Acciona S.A. Parent Company -

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

No contacts available at the time of disclosure.

ACCESS TO INFORMATION

As part of FMO's ex-ante disclosure (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

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How it works