Energia de Celaya S.A. de C.V. (MIGA-14498)

Countries
  • Mexico
Geographic location where the impacts of the investment may be experienced.
Specific Location
Guanajuato
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
  • Multilateral Investment Guarantee Agency (MIGA)
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
A
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
Jan 8, 2020
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
Fisterra Energy Holdings LP, or one of its affiliates
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Guarantee
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 172.00 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)
$ 172.00 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
Media Documents
Primary Source

Original disclosure @ MIGA website

Updated in EWS Apr 2, 2020

Disclosed by Bank Nov 8, 2019

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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.

This summary covers an application made by Fisterra to cover its equity investment in Energia de Celaya,S.A. de CV(the Project) in the Republic of Mexico. MIGA coverage has been sought for up to US$172 against the risk of transfer restriction, expropriation, war and civil disturbance, and breach of contract for a tenor of up to 15 years.

The Project comprises the development, construction, and operation & maintenance of a combined cycle gas turbine power plant with a total net capacity of 1.3GW. The project location is in Cortazar Municipality in the State of Guanajuato, approximately 200 km northwest of Mexico City. The Project will also include the construction of a 5 km 400kV transmission line, and a 4 km 230kV transmission line, connecting the Project's substation to the existing transmission network owned and operated by the Federal Electricity Commission and a private offtaker.The Project will be connected to the natural gas pipeline Ramal Salamanca through a 11km pipeline being developed by a third party (Gaseoducto de Cortazar, S.R.L. de C.V.). The Project also has access to gas through a secondary pipeline which crosses the south portion of the Project site.

 

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
- - - - Blackstone Parent Company -
- - - - Deacero SA de CV Investor -
- - - - Fisterra Energy Investor -

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.

ACCOUNTABILITY MECHANISM OF 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/

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How it works