Release date: 15 January 2009
Promoter – Financial Intermediary
ALTERNEGY SABONTEX SA
Location
Description
The project consists of the construction and operation of a cascade of three run-of-river power plants with a total installed capacity of 115 MW, located in the province of Chiriqui in Panamá.
Objectives
Contribution (i) to support EU presence in Latin America through Foreign Direct Investment and (ii) to the economic development of Panamá through improved electricity supply from a renewable source.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 170 million.
Total cost (Approximate amount)
EUR 340 million.
Environmental aspects
The project, if located within the EU, would fall under Annex 2 of the EIA directive. As required by the national law the promoters have conducted an EIA, including public consultation, for each of the three power plants according to which the project does not generate any major negative social or environmental impact; nevertheless mitigation measures have been put in place including the plantation of 20 ha of mixed forest. During appraisal the need for a cumulative environmental assessment shall be verified.
Procurement
The procurement of the project is not required to follow public procurement procedures since, under the Bank’s Guide to Procurement, the concession has been obtained through a sufficiently open and objective procedure, which is not considered to have provided any special or exclusive right in obtaining the water concession.
Status
Signed - 27/10/2009
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).