Original disclosure @ EIB website
Updated in EWS May 10, 2022
Disclosed by Bank Aug 31, 2021
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A framework loan to support investment promoted by ENEL's subsidiaries in Latin America for the period 2021-2024.
The operation would support the implementation of a number of renewable energy generation and energy efficiency programmes aimed at the addition of generation capacity from renewable sources and renewal, climate resilience, and technological upgrade of the electricity network in various countries in Latin America, primarily in Brazil, Peru and Chile.
The operation is aligned with the EIB's priorities on sustainable energy and climate change, as laid out in the Climate Bank Roadmap. The market for sustainable energy infrastructure in the targeted countries is currently growing driven by the Paris Agreement commitments and existing decarbonisation paths.
The project is expected to contribute to the achievement of the UN 2030 Agenda, in particular the achievement of SDG 7 (affordable and clean energy) and 13 (climate action), while mainstreaming job creation, empowerment of woman entrepreneurship and gender equality to address SDG 5 (gender equality), and thus contributing to the people, planet, prosperity and partnerships dimensions of the European Consensus on Development.
The operation intends to generate environmental benefits by supporting sustainable energy infrastructure that help to mitigate climate change.
Some of the projects, and in particular the renewable energy projects to be financed by this operation, are expected to require an Environmental Impact and Social Assessment (ESIA) under the relevant national legislation. However, if located within the EU, the renewable energy generation plants could fall under the Annex II of the EIA Directive 2014/52/EU (amending Directive 2011/92/EU), requiring the competent authorities to determine whether an environmental impact assessment is required. With regards to the electricity distribution allocations, the majority of the schemes currently proposed comprise of medium and low voltage assets. Therefore, if located in the EU, they would fall neither under Annex I nor under Annex II of the EIA Directive. High Voltage lines and/or substations may fall under Annex I or II of the EIA Directive. Subject to their characteristics and cumulative impact, an environmental impact assessment may be required.
Nonetheless, the Bank will assess the capacity and procedures of the promoter to ensure the projects' compliance with national environmental, social and biodiversity regulations, as well as with the EIB's environmental and social standards and the principles of relevant EU Directives (i.e. Habitats Directive 92/43/EEC and Birds Directive 2009/147/EC).
The Bank will require the promoter to ensure that implementation of the project will be done in accordance with the Bank's Guide to Procurement, specially discarding any type of local content or local preference requirement at sub-project (allocation) level.
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**Project contacts not available at the time of disclosure.**
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