Übersicht
The framework loan will support renewable energy projects in Mexico. The financial intermediary has presented a preliminary portfolio composed of two wind farms.
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.
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.
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.