EOLO DE NICARAGUA S.A.
Status: Completed investmentWhy disclosure?
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Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
The project company Eolo de Nicaragua S.A. was established by Globeleq and Mesoamerica Power to develop a 44 MW wind project located at the shore of Lake Nicaragua. Both sponsors are experienced operators and investors in the (renewable) power sector.
What is our funding objective?
The Infrastructure Development Fund's subordinated loan is being used for the development and construction of the project. This includes a transmission line, a new sub-station and wind turbines.
Why do we fund this investment?
The project will generate low-cost, clean and sustainable energy in a country where large shortages of energy exist and where the energy matrix is dominated by fossil fuels. The long tenor offered by FMO is integral to the project, as comparable loans are not available from commercial parties.
More investments
| Date | Total FMO financing |
|---|---|
| 12/30/2021 | EUR 0.04 MLN |
| 12/22/2021 | USD 28.00 MLN |
- Website customer/investment
- http://www.arctas.com
- Region
- Latin America & The Caribbean
- Country
- Nicaragua
- Sector
- Energy
- Effective date
- 4/20/2012
- End date
- 12/22/2021
- Total FMO financing
- USD 12.00 MLN
- Funding
- Building Prospects
-
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B+