Reference: 20160865
Release date: 3 April 2017

Promoter – Financial Intermediary

The borrower is Nacional Financiera SNC (NAFIN), who will on-lend to an acceptable corporate.

Location

Description

The project is an allocation under the Mexico Climate Action framework loan which will be intermediated by NAFIN (Nacional Financiera). The project concerns the construction of a 199.5 MW wind farm in Mexico. The wind farm comprises 95 wind turbine generators (WTGs), rated at 2.1 MW each, and associated infrastructure, including access roads, control centre and interconnection to the grid.

Objectives

The project aims to help meet the Mexican national target of 35% of electricity generated from renewable energy sources by 2024. It is also consistent with the EIB's objectives outside the European Union, contributing to the promotion of renewable energy generation, and will contribute to the attainment of the UN Sustainable Development Goal (SDG) on climate action.

Sector(s)

  • Energy - Electricity, gas, steam and air conditioning supply

Proposed EIB finance (Approximate amount)

USD 40 million (EUR 34 million)

Total cost (Approximate amount)

USD 351 million (EUR 297 million)

Environmental aspects

If the plant was located within the EU it 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. Following Mexican national legislation a full EIA is mandatory for the project. Due to the specificities of the land tenancy in Mexico and the vulnerability of certain groups, the social impact will be carefully assessed at appraisal. Compliance with the EIB's environmental and social standards, with national law and EU environmental and social principles with particular reference to EU environmental horizontal directives, stakeholder engagement, access to information and impact on biodiversity and cumulative impact will also 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

Approved - 29/09/2017

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

Related tags

Mexico Energy