INVERSIONES EOLICAS DE OROSI DOS
Status: Completed investmentWhy disclosure?
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In case of questions
In case of questions, please contact us at disclosure@fmo.nl
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
Our client is Inversiones Eolicas de Orosi Dos S.A., a special purpose vehicle created with the sole purpose of building and operating a 50MW wind power project, including a substation and a 20km transmission line, in the Guanacaste province of Costa Rica.
What is our funding objective?
FMO's loan will go towards financing part of the cost of building the wind power project.
Why do we fund this investment?
This project fits well with FMO's energy strategy. It is a renewable energy source in an upper-middle-income country. Additionally, the wind speeds at the location of the project are exceptionally high, which will ensure that the electricity output of the project is high, especially in the windy season. The windy season in Costa Rica falls at the same time as the dry season of the country. This is ideally timed, since Costa Rica uses a lot of electricity generated from hydropower plants, which cannot operate at full capacity in the dry season. The missing electricity from hydropower is currently replaced by power plants running on fossil fuels in the dry months of the year. The electricity that the present project generates is cheaper and cleaner than the fossil fuels which it will soon replace in the dry and windy season, and adds to a more sustainable energy mix for Costa Rica.
- Region
- Latin America & The Caribbean
- Country
- Costa Rica
- Sector
- Energy
- Effective date
- 12/11/2013
- End date
- 11/23/2021
- Total FMO financing
- USD 28.00 MLN
- Funding
- FMO NV
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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+