AGUAS EL CARMEN SOCIEDAD ANONIMA
Status: Approved 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
Aguas el Carmen is a company based in Nicaragua, seeking to develop a 85MW hydroelectric power project in this country.
What is our funding objective?
In 2015 the project is in an early stage. FMO will provide a convertible grant to Aguas elCarmen, which can be converted to equity if the project reaches financial close. This convertible grant can be used to finance part of the development costs, which include amongst others a good environmental and social impact assessment to ensure that Aguas El Carmen meets the highest environmental and social standards.
Why do we fund this investment?
Hydropower is a clean, renewable source of energy. In addition to a fast growing demand for energy, Nicaragua also has a clear energy agenda that prioritizes renewables. Hydroelectric power can provide a base load source of electricity, which will have a significantly positive impact on Nicaragua, as the country is heavily dependent on sources of electricity, such as wind power, which are fluctuating in nature. FMO's investment supports improved access to clean and reliable energy.
- Region
- Latin America & The Caribbean
- Country
- Nicaragua
- Sector
- Energy
- Effective date
- 12/8/2014
- Total FMO financing
- USD 1.51 MLN
- Funding
- Building Prospects