Linea STR Barranquilla (IDBI-14898-01)

Regions
  • Europe and Central Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • Colombia
Geographic location where the impacts of the investment may be experienced.
Specific Location
District of Barranquilla, municipality of Soledad, Department of Atlantico
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
  • 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."
Voting Date
Mar 21, 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
Energía de Colombia S.A.S. E.S.P.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 50.52 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.
Loan Amount (USD)
$ 50.52 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.
Bank Documents
Community Documents
Primary Source

Original disclosure @ IDBI website

Updated in EWS May 22, 2024

Disclosed by Bank Jan 31, 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.

The UPME STR 02-2019 project, located in the Caribbean region of Colombia, in the Department of Atlantico, Special Port and Industrial District of Barranquilla and, in a minimal proportion, in the municipality of Soledad, was awarded in 2020 by the Mining and Energy Planning Unit ("UPME") to the Energia de Colombia STR S.A.S E.S.P consortium, whose main shareholder is the firm Ortiz Construcciones y Proyectos S.A. with 80% participation, "Fondo para Inversiones en el Exterior" (FIDEX) with 18.62% and "Compania Espanola de Financiacion del Desarrollo" (COFIDES) with the remaining 1.38%.

The general objective of the Project is to guarantee the improvement and reliability in the electrical supply for the Municipalities of Barranquilla and Soledad in the Department of Atlantico, through the design, supply, construction, operation and maintenance of: (i) the Estadio Substation 110 kV; (ii) the expansion and modernization of eight (8) substations and the interconnection of nine (9) substations; (iii) the installation of about twenty-four (24) kilometers of 110kV high voltage underground lines, of which 1.08 kilometers were carried out in the municipality of Soledad; and (iv) the construction of the associated works.

The Project formally began the operation phase on November 2nd, 2023 for a period of 25 years, measured from the beginning of operation and after the conclusion of the basic and detailed engineering designs, permit and license procedures, the supply and assembly of equipment, the construction, commissioning and corresponding testing of the works.

The Project was originally funded through a medium-term financing structure, and currently its refinancing is being considered. In this context, IDB Invest expects to grant up to COP 200,000 million within the longer-term and less liquid local currency tranche, helping to mobilize resources from local banks and institutional investors

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

As stated on the company's website (translated with DeepL.com), Energía de Colombia S.T.R. S.A.S. E.S.P. is a public utilities company that was created with the objective of offering the national market a complete, integrated and multidisciplinary service, in the form of a cross-cutting solution for the electric energy sector.

Its main shareholder is the firm Ortiz Construcciones y Proyectos S.A. with 80% participation, “Fondo para Inversiones en el Exterior” (FIDEX) with 18.62% and “Compañía Española de Financiación del Desarrollo” (COFIDES) with the remaining 1.38%.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
Ortiz Construcciones y Proyectos, S.A. Parent Company Infrastructure owns Energía de Colombia S.A.S. E.S.P. Client Energy

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.

Client - Energía de Colombia S.A.S. E.S.P.:

Address: Calle 77 Nº 59-35, Of. 1211, Centro Empresarial, Las Américas III, Barranquilla
Email: andres.molina@edcesp.com
Phone: (+57) 320 390 4807 
Website: https://edcesp.com/

IDB Invest General Inquiries:

Email: requestinformation@idbinvest.org
Phone: +1(202)-566-4566
Address: 1350 New York Ave NW, Washington, DC 20005

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://www.iadb.org/en/access-information/information-request

ACCOUNTABILITY MECHANISM OF IDB / IDB INVEST

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 (IDB Invest)-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 IDB Invest 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).

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