Release date: 26 January 2018
Promoter – Financial Intermediary
CAISSE DE DEPOT ET PLACEMENT DU QUEBEC,CKD INFRAESTRUCTURA MEXICO SA DE CV,ENEL GREEN POWER SPALocation
Description
Through a project finance scheme, the EIB loan will partly finance three solar photovoltaic plants in Mexico as part of the country's clean energy transition plan.
Objectives
This is an important project for the EIB outside the EU, as it supports climate-related investments in developing countries. At post-approval stage, the plants resulted in having a combined capacity of 1.088 MWp, which at appraisal stage was 991 MW.
Sector(s)
- Energy - Electricity, gas, steam and air conditioning supply
Proposed EIB finance (Approximate amount)
USD 87 million (EUR 70 million)
Total cost (Approximate amount)
USD 1000 million (EUR 810 million)
Environmental aspects
If the solar photovoltaic plants were located within the EU they would fall under Annex II of the Environmental Impact Assessment (EIA) Directive 2014/52/EU amending the EIA Directive 2011/92/EU), requiring the competent authorities to determine whether an is required. Following Mexican national legislation full EIA and Social Impact assessments are mandatory for such projects. Due to the specificities of the land tenancy in Mexico, the social impacts will be carefully assessed at appraisal. Compliance with the EIB's environmental and social standards and the principles of relevant EU Directives, will be verified at appraisal.
Procurement
The EIB will require the promoter to ensure that implementation of the project will be done in accordance with EIB's Guide to Procurement.
Status
Signed - 25/09/2018
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).