Release date: 15 June 2023
Promoter – Financial Intermediary
ENEL CHILE SALocation
Description
The operation is an allocation under the Framework Loan ENEL ENERGY EFFICIENCY & RENEWABLES FL (LATAM) (2020-0823) approved by the Board of Directors on 17.11.2021 (CA/548/21) supporting the development of renewable energy generation in Chile.
Objectives
The project consists of the construction and operation of the Guanchoi solar photovoltaic project in Chile (formerly known as Campos del Sol II), for an expected new generation capacity of ca. 398 MWp and its scope includes some ancillary infrastructure such as the substation, main access roads and high voltage transmission line.
Sector(s)
- Energy - Electricity, gas, steam and air conditioning supply
Proposed EIB finance (Approximate amount)
USD 243 million (EUR 221 million)
Total cost (Approximate amount)
USD 324 million (EUR 294 million)
Environmental aspects
The project will generate environmental benefits, by supporting new renewable energy generation capacity that help to mitigate climate change. If the renewable energy plant was located within the EU they would fall under Annex II of the Environmental Impact Assessment (EIA) Directive 2011/92/EU as amended by the Directive 2014/52/EU, requiring the competent authorities to determine whether an EIA is required. Following Chilean national legislation, an Environmental Impact Statement is mandatory for such projects, and thus, it has been carried out by the promoter. The processes and their conclusions will be assessed at appraisal. Compliance with the EIB's environmental and social standards and amongst others, the principles of relevant EU Directives, will be verified at appraisal. The project is expected to contribute to climate action and environmental sustainability (CA&ES) objectives, in particular to climate mitigation and pollution prevention.
Procurement
The Bank will require the promoter to ensure that implementation of the project will be done in accordance with the EIB's Guide to Procurement.
Status
Approved - 28/07/2023
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).