Parque Arauco Wind Projects (IDBI-12133-01)

Countries
  • Argentina
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • IDB Invest (IDBI)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
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."
Borrower
Vientos de Arauco Renovables SAU y Arauco Renovables SAU
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
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)
$ 50.00 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)
$ 50.00 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.
Media Documents
Campaign Documents
Primary Source

Original disclosure @ IDBI website

Updated in EWS Dec 14, 2018

Disclosed by Bank Mar 7, 2018

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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.

The Inter-American Investment Corporation ("BID Invest") is considering the granting of a loan to support the construction of (a) Phases 1 and 2 of the Arauco II Wind Project, a wind farm of approximately 99.75 MW of installed capacity. part of Vientos de Arauco Renovables SAU - a specific purpose company -, (b) Phases 3 and 4 of the Arauco II Wind Project, a wind farm of approximately 95 MW of installed capacity by Arauco Renovables SAU - a specific purpose company ( both parks will be located in the same location as the current ones, Arauco I) and (c) a high voltage transmission line of 83 kilometers (132 kV) to connect the plants of the Arauco II Wind Project to the La Rioja distribution transformer station South that connects with the national network.

People Affected By This Project
People Affected By This Project refers to the communities of people likely to be affected positively or negatively by a project.

The Project has been preliminarily classified as Category B (Medium Risk) according to the IIC's Environmental and Social Sustainability Policy. The project categorization will be confirmed based on the results of the environmental and social due diligence, when more information is available.

The Project prepared an Environmental Impact Assessment (EIA) study for the wind farm and other EIA study for the transmission lines and auxiliary facilities. Both EIA studies have been approved by the corresponding environmental authorities.

Land acquisition and easement rights documentation, together with other authorizations and permits, will be reviewed during the environmental and social due diligence (ESDD).

The risks associated with the construction stage of the Project are mostly localized and can be managed with readily available best practices and mitigation measures. Examples of such impacts are potential social impacts caused by transportation of electro mechanicals components by truck from a port to the project site; potential soil and water contamination caused by inappropriate solid and liquid wastes management and pluvial erosion of soil caused by inadequate erosion management.

The main risks at the operation stage are those associated with noise, shadow flicker collision of birds and bats with blades of wind generators.

IIC has engaged the support of specialized consultants for the Environmental and Social Due Diligence (ESDD) to ensure the Project meets the requirements of the IIC Environmental and Social Sustainability Policy, consider possible cumulative impacts, confirm the project categorization, determine the need of further studies (such as additional bird and bat monitoring), evaluate consultation and disclosure efforts, assess management capacity and management systems to mitigate E&S risks and prepare an environmental and social action plan (ESAP) to address identified gaps. The ESAP will include E&S requirements for contractors, stakeholder engagement plans and management and supervision capacity from the owner.

An Environmental and Social Review Summary (ESRS) and the ESAP will be posted on the IIC's website once the due diligence process is concluded.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Arauco Renovables SAU Undisclosed -
- - - - Vientos de Arauco Renovables SAU Undisclosed -

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.

Sr. Arq. Fernando Carbel
CEO - Parque Arauco SAPEM
Phone: +54 3804 431439
Email:
jfcarbel@peasapem.com

 

ACCOUNTABILITY MECHANISM OF IIC

The Independent Consultation and Investigation Mechanism (MICI) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an Inter-American Development Bank (IDB) or Inter-American Investment Corporation (IIC)-funded project. If you submit a complaint to MICI, they may assist you in addressing the problems you raised through a dispute-resolution process with those implementing the project and/or through an investigation to assess whether the IDB or IIC is following its own policies for preventing or mitigating harm to people or the environment. You can submit a complaint by sending an email to MICI@iadb.org. You can learn more about the MICI and how to file a complaint at http://www.iadb.org/en/mici/mici,1752.html (in English) or http://www.iadb.org/es/mici/mici,1752.html (Spanish).

For inquiries and comments to IIC, contact:
IIC’s Communications Group
E-mail: divulgacionpublica@iadb.org

For project inquiries, including environmental and social questions related to an IIC investment, please contact the client or the IIC using the contact information provided above. In addition, project affected communities have access to the IIC Independent Consultation and Investigation Mechanism.
Tel:+1 (202) 623-3952
Fax: +1 (202) 312-4057
Address: 1300 New York Ave. NW Washington, DC. USA. 20577
E-mail: mecanismo@iadb.org or MICI@iadb.org

How it works

How it works