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As stated by the IFC, the proposed investment entails a 10-year senior unsecured loan to Energuate for up to US$175 million (including up to US$100 million from IFC). The proceeds of the loans provided by IFC shall be used for financing of the Co-Borrowers’ investment plan for the period June 30, 2022 through December 31, 2025 related to (A) energy loss control and reduction initiatives, and improvements to the existing distribution network to increase the efficiency and reliability thereof, and (B) enabling new distribution lines that will be built by the Co-Borrowers in the future to interconnect mostly users in rural communities located within the established distances of the network per regulatory requirements and per Energuate’s rural electrification plan (aimed to support the GoG’s REP), that will increase the reliability, efficiency, and resilience of the existing network, increase the number of household connections from the existing lines.
From the IFC's disclosure:
DEOCSA and DEORSA are two power distribution companies in Guatemala, collectively referred to as Energuate. Energuate is the largest privately-owned power distribution company in Central America based on the network’s geographic coverage and size. Operations consist of installing low and medium voltage distribution lines from nodal electrical substations on public rights of way (RoW) to rural households located within the regulatory threshold of their distribution area, provided these meet RoW access (obtained by the end-user from the local municipality) and technical safety requirements. Energuate presently serves 2.3 million mostly rural customers.
After several private owners, Energuate was acquired by Inkia Energy Group in 2016, granting them rights to operate, extend and maintain distribution services in 20 of 22 Guatemalan departments for a period of 50-years (ending in 2048).
Private Actor 1 | Private Actor 1 Role | Private Actor 1 Sector | Relation | Private Actor 2 | Private Actor 2 Role | Private Actor 2 Sector |
---|---|---|---|---|---|---|
- | - | - | - | Energuate | Client | Energy |
- | - | - | - | Inkia Energy | Parent Company | Energy |
General IFC Inquiries - IFC Communications:
Address: 2121 Pennsylvania Avenue, NW, Washington DC 20433
Telephone: +1 202-473-3800
Fax: +1 202-974-4384
Borrower - Energuate (Distribuidora de Electricidad de Oriente, S.A. and Distribuidora de Electricidad de Occidente, S.A.):
Paulo Cesar Parra - Chief Executive Officer
Email: pcparra@energuate.com
Address: Diagonal 6, 10-50 zona 10 | Edificio Interamericas Torre Sur Nivel 14 Guatemala
Website: https://www.energuate.com/
ACCESS TO INFORMATION
You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries
If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.
ACCOUNTABILITY MECHANISM OF IFC/MIGA
The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org