Release date: 8 December 2014
Promoter – Financial Intermediary
The borrower is the Central American Bank for Economic Integration (BCIE/CABEI)Location
Description
Allocation under the Central America Climate Change Framework Loan II. The project consists of the construction and operation of a 80.8MWp photovoltaic power plant and associated infrastructure. It will be located in Choluteca, Honduras.
Objectives
The project aims to provide for increasing electricity demand from a renewable source in Honduras.
Sector(s)
- Energy - Electricity, gas, steam and air conditioning supply
Proposed EIB finance (Approximate amount)
EUR 34 million
Total cost (Approximate amount)
EUR 149 million
Environmental aspects
The solar project involves the installation of photovoltaic panels on surface or around 250 hectares. If the project were located in the EU, it would fall under Annex II of the Environmental Impact Assessment (EIA) Directive (2011/92/EU) as amended, requiring the competent national authority to determine the need for an EIA. The project has been subject to an environmental and social impact assessment (ESIA). The promoter has carried out environmental and social studies involving public consultation. The project will require the resettlement of five families. Environmental and social mitigation and compensation measures will comply with IFC's Performance standards. The ESIA will be reviewed accordingly during the appraisal with a particular focus on social impacts and the impacts on biodiversity.
Procurement
The promoter is a private undertaking. During appraisal, the Bank will review the procurement procedures and require that they conform to the Bank's Guide to Procurement.
Status
Approved - 20/03/2015
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).