Celeo Transmission Assets: Financing Peru-Ecuador Power Interconnection and Additional T-Lines (IDBI-15378-01)

Regions
  • Latin America and Caribbean
Geographic location where the impacts of the investment may be experienced.
Countries
  • Peru
Geographic location where the impacts of the investment may be experienced.
Specific Location
Puerto Maldonado, Iberia, Piura, Piura Nueva
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
Aug 5, 2025
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
Celeo Redes Perú S.A.C.
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)
$ 87.00 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)
$ 87.00 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 @ IDBI website

Updated in EWS Mar 29, 2025

Disclosed by Bank Mar 27, 2025


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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 IDB Invest, the Project's goal is to develop, build, and operate: (i) a 138kV transmission line between Puerto Maldonado and Iberia, (ii) the Valle del Chira Substation in Piura, and (iii) a 500kV transmission line between Piura Nueva and the Peru-Ecuador border. This project is expected to play a key role in strengthening the energy system by enhancing supply reliability and promoting greater integration between Peru and Ecuador.

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, CELEO Concesiones e Inversiones S.L. (CELEO) was incorporated in 2009 as a company committed to the development, investment, and management of infrastructure assets, undertaking the overall management of the Elecnor Group's concessions and investments.

Being currently involved in the construction and operation of renewable energy transmission and generation systems at an international level, CELEO owns assets in Spain, Brazil, Chile and Peru while working on a range of developments in other Latin American markets.

Growing constantly, and thanks to the support of its partners, the Elecnor and APG Groups,Celeo is positioned as a recognised company within the energy sector,currently managing a portfolio of assets with a total investment value of approximately 5.8 billion dollars.

Celeo’s shareholding structure is divided as follows: 51% is owned by ELECNOR, S.A. and 49% by the APG Group Dutch fund, one of the most important pension investment companies in the world, operating its stake in Celeo through Pasterze Investments Holding B.V.

ELECNOR Elecnor S.A. is the parent company of a group comprised of nearly 80 companies located in Spain and in more than 50 other countries. It is an organisation that has over 22,000 employees. It has two main business areas: Infrastructure, which focuses on the execution of engineering, construction and services projects; and Concessions, through which it invests in energy infrastructure assets, thereby enabling the company to develop major projects end-to-end, generating revenue from their development, implementation, operation and maintenance.

With nearly 60 years of continuous growth and a presence in more than 50 countries, Elecnor has become one of the most outstanding Spanish business groups and a benchmark in the infrastructure, renewable energy and technology sectors.

APG is one of the world’s largest pension investors. In January 2023, the assets it managed for its pension funds and their 4.8 million participants in total represented a value of approximately 541 billion euros. Its goal is to ensure a good and affordable pension for current and future generations. To this end, APG manages its assets as responsibly as possible, with the ambition of achieving attractive and sustainable investment returns for its customers.

APG has a global presence, with offices in Amsterdam, Heerlen, Brussels, New York and Hong Kong, as well as satellite sites in Beijing and Shanghai.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
APG Group NV Investor Finance invests in Celeo Redes Client Energy
Elecnor Parent Company Energy owns Celeo Redes Client Energy
Stichting Pensioenfonds ABP Parent Company Finance owns APG Group NV Subsidiary Finance

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 - Celeo Redes Perú S.A.C.:

Address: Av. República de Colombia 791. Edificio Torre I - Of. 903. San Isidro - Lima 
Phone: (+51) 968 786 537
Email: pe.pmte@celeogroup.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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