Sao Martinho Cogen (IFC-43319)

  • Brazil
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
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."
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • Agriculture and Forestry
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 90.00 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)
$ 90.00 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 @ IFC website

Updated in EWS Dec 10, 2020

Disclosed by Bank Nov 16, 2020

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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.

São Martinho S.A. (the “Company” or “São Martinho”), an existing IFC client, is a leading sugar and ethanol company in Brazil with 24.5 million tons of crushing capacity, operating three sugar mills (São Martinho, Iracema and Santa Cruz mills producing sugar, ethanol, bioenergy and by-products) in the state of São Paulo and one distillery in the state of Goias (Boa Vista mill producing ethanol and bioenergy). The company has currently 247k ha under production, 55k ha of which are owned and the remainder is leased land and partnerships. São Martinho crushed 22.6 million tons of sugarcane last season (2019/2020), and produced 1.1 million tons of sugar, 436 thousand m3 of anhydrous ethanol and 670 thousand m3 of hydrous ethanol. The proposed IFC facility is a financing package for São Martinho comprised of a Loan in the amount of up to US$90 million. The IFC Loan will support the Company’s investment program, consisting of (i) the expansion of the Company’s cogeneration capacity, including new efficient boilers and equipment; and (ii) the renewal and treatment of existing sugarcane fields (the Project). The cogeneration investment will replace existing boilers and generators with new more efficient ones and allow to produce additional electricity to be sold into the grid and for Sao Martinho’s own consumption. The Project will also support the renovation of the Company’s sugarcane plantations using advanced climate-smart agricultural techniques, including maximizing the use of organic fertilizers, recycling nutrients, and minimum tillage among others.

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
- - - - SAO MARTINHO S/A Investor Finance

Contact Information
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