PARQUE EOLICO TRES HERMANAS S.A.C.
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
Parque Eólico Tres Hermanas is a 97MW wind project located in Ica, Peru. The Project is developed, built, owned and operated by Spain-based Cobra Instalaciones y Servicios (Cobra), a 100% subsidiary and main industrial contractor of Spain-based ACS. The project has been awarded a 20 year Renewable Energy Supply Concession and benefits from priority dispatch and a take-or-pay structure.
What is our funding objective?
The sponsors and lenders finance the development, construction and operations of the 97MW wind farm, which together with the adjacent wind farm Marcona (32MW), constitutes one of the largest wind farms built in Peru to date. The project , by providing energy to the grid in the southern part of Peru, contributes to Peru's target of having 5% of its energy coming from renewable energy sources.
Why do we fund this investment?
The Project fits well within the energy strategy of FMO as it is a renewable energy transaction in an Upper Middle Income Country. The DFI's value added is in particular the 18 years tenor which cannot be obtained in this quantum by commercial banks.Furthermore, adding generation capacity to the grid in a region where no other power plant are located contributes highly to the stability of the grid.
- Website customer/investment
- http://www.grupocobra.com
- Region
- Latin America & The Caribbean
- Country
- Peru
- Sector
- Energy
- Effective date
- 2/6/2015
- End date
- 2/1/2019
- Total FMO financing
- USD 11.02 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+