Release date: 14 December 2016
Promoter – Financial Intermediary
ACCEPTABLE CORPORATE(S)Location
Description
The framework loan will support renewable energy projects in Mexico. The financial intermediary has presented a preliminary portfolio composed of two wind farms.
Objectives
The operation comprises the construction and operation of renewable energy plants in Mexico. The project aims to support Mexico's National Climate Change Strategy 10-20-40 Vision, which has the goal of generating 35% of total electricity from clean sources by 2024.
Sector(s)
Proposed EIB finance (Approximate amount)
USD 100 million (EUR 94 million)
Total cost (Approximate amount)
USD 1184 million (EUR 1112 million)
Environmental aspects
If the plants were located within the EU they would fall under Annex II of the Environmental Impact Assessment (EIA) Directive (2011/92/EU), requiring the competent authorities to determine whether an EIA is required. In Mexico full EIA and social impact assessment are mandatory for both projects. Due to the specificities of the land tenancy in Mexico and the sensitivity of certain groups, the social impact will be carefully assessed at appraisal. Compliance with the EIB's environmental and social standards and, among other things, the principles of relevant EU directives, will be verified at appraisal.
Procurement
The Bank will require the promoter to ensure that implementation of the project will be done in accordance with the Bank's Guide to Procurement.
Status
Signed - 7/11/2017
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).