Grupo Kattan II (IDBI-15033-01)

Regions
  • Latin America and Caribbean
Geographic location where the impacts of the investment may be experienced.
Countries
  • Honduras
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."
Voting Date
Oct 14, 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
Inmobiliaria Hondurena del Valle S.A. de C.V.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
  • Industry and Trade
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)
$ 20.00 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.
Loan Amount (USD)
$ 20.00 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.
Bank Documents
Other Related Projects
Primary Source

Original disclosure @ IDBI website

Updated in EWS Sep 29, 2024

Disclosed by Bank Jul 22, 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.

At the time of review, the IDB Invest webpage did not allow access to the project disclosure: "You are not authorized to access this page."

Project description translated with DeepL.com:

The project consists of a long-term secured loan to finance a solar photovoltaic project on the rooftop of Inmobiliaria Hondurena del Valle S.A. de C.V. (“INHDELVA”), which also includes battery storage equipment and the construction of an industrial building for the production of industrial yarns.

The proposed financing has the following objectives: (i) generate 13.24 MWp of renewable energy and partially support the energy deficit in the area; (ii) provide renewable energy at a lower cost than currently available thermal energy; (iii) create employment during the construction and supervision of the project, in addition to employing a Honduran company for the installation of solar panels and batteries, promoting the creation of technical knowledge in the local market; and (iv) innovate, as this will be one of the first projects to inject energy with batteries in the market of opportunity, using the latest technology available.

Original description from the IDB Invest project disclosure:

El proyecto consiste en un prestamo garantizado y de largo plazo para financiar un proyecto solar fotovoltaico sobre los techos de las instalaciones de Inmobiliaria Hondurena del Valle S.A. de C.V. ("INHDELVA"), el cual incluye tambien equipo de almacenamiento con baterias, ademas de la construccion de una nave industrial para la produccion de hilos industriales.

El financiamiento propuesto tiene los siguientes objetivos: (i) generar 13,24 MWp de energia renovable y apoyar parcialmente el deficit de energia en la zona; (ii) proveer energia renovable a un costo inferior al de la energia termica actualmente disponible; (iii) crear empleo durante la construccion y supervision del proyecto, ademas de emplear a una empresa hondurena para la instalacion de paneles solares y baterias, promoviendo la creacion de conocimiento tecnico en el mercado local; y (iv) innovar, ya que este sera uno de los primeros proyectos de inyeccion de energia con baterias en el mercado de oportunidad, utilizando equipos con la ultima tecnologia disponible.

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
- - - - Inmobiliaria Hondureña del Valle S.A. de C.V. Client Industry and Trade

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.

General IDB Invest enquiries:

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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