Parque Arauco Wind Projects (IIC-PROJECTNUMBER)

Countries
  • Argentina
Where the impacts of the investment may be experienced.
Financial Institutions
  • IDB Invest
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
B
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
Jun 26, 2018
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
Vientos de Arauco Renovables SAU and Arauco Renovables SAU
The holder of the loan, grant, or other investment.
Sectors
  • Construction
  • Energy
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, etc.
Investment Amount (USD)
$ 50.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ IIC website

Updated in EWS Sep 18, 2018

Disclosed by Bank Mar 5, 2018


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Project Description

This project provides financing for the construction of two wind farms to be built on the sites of existing plants, and the construction of a transmission line connecting the plants to the national grid:

  1. Phases 1 and 2 of the Arauco Wind Project II (Central Arauco II – phases 1 and 2), a 99.75 MW wind farm
  2. Phases 3 and 4 of the Arauco Wind Project II (Central Arauco II phases 3 and 4) , a 95MW wind farm
  3. 83 kilometer, 132 kV high voltage transmission line to connect the Arauco Wind Project II plants to the 500 kV distribution transforming station (La Rioja Sur- operated by Transnoa)

Production is expected to begin in 2019.

Investment Description
  • IDB Invest
Private Actors
  • Arauco Renovables SAU -- Implementing Company
  • CAMMESA S.A. -- Customer
  • Parque Arauco S.A. -- Parent Company
  • Vientos de Arauco Renovables SAU -- Implementing Company

Arauco Renovables SAU and Vientos de Arauco Renovables SAU are special purpose vehicles that are owned by Parque Arauco, and have been created for the purpose of implementing the wind farms.

The project will sell electricity to CAMMESA under two 20-year power purchase agreements awarded under the RenovAr Program.

Contact Information

For inquiries about the Project, contact: Envision Energy
Client Contact name: Fernando Carbel
Email address: jfcarbel@peasapem.com

For inquiries and comments to IIC, contact:
IIC’s Communications Group
E-mail: divulgacionpublica@iadb.org

ACCOUNTABILITY MECHANISM OF IIC
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).