Supporting the Zero Fossil Fuels Initiative for Galapagos (IADB-EC-T1414)

Countries
  • Ecuador
Where the impacts of the investment may be experienced.
Specific Location
Galapagos Islands
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
  • Inter-American Development Bank (IADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
C
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Aug 1, 2019
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Government of Ecuador
The holder of the loan, grant, or other investment.
Sectors
  • Energy
  • Technical Cooperation
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Grant
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 0.50 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 0.50 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IADB website

Updated in EWS Aug 19, 2019


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Project Description

The project aims to support the elimination of fossil fuel consumption for power generation as part of the national conservancy strategy of the Archipelago. The project will be composed of 3 activities:

Activity 1. A study to identify the most adequate electrical infrastructure for generation in the Galapagos, including a 25-year demand projection and an analysis on the levelized cost of energy (LCOE) of the proposed projects. This study includes investigation of renewable energy potential on major islands.

Activity 2. Energy Efficiency Investment Plan. Identify and prioritize a portfolio of Energy Efficiency projects in the Galapagos Islands, based on the demand projections identified in Component I, for the design of the optimized power generation expansion plan. This component will also finance introduction of efficiency improvement program and regulatory framework.

Activity 3. Knowledge Dissemination: Support the development of a public awareness campaign for the rational use of energy. This activity also includes training program for MERNNR and ElecGalapagos.

Investment Description
  • Inter-American Development Bank (IADB)
Contact Information

ACCOUNTABILITY MECHANISM OF IADB

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 (IIC)-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 IIC 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).