VIENTOS DE ELECTROTECNIA S.A. DE C.
Status: Approved investmentWhy disclosure?
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In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Vientos de Electrotecnia S.A. de C.V. (VESA) is a special purpose company incorporated in Honduras for the development of the San Marcos wind farm. VESA is owned by Grupo Terra, one of Central America's most experienced players in energy and infrastructure. Grupo Terra invited FMO to be the mandated lead arranger for this wind farm project.
What is our funding objective?
FMO will finance the development and construction of a 50MW, 25 turbine wind farm and the associated transmission lines in San Marcos de Colon in Honduras. Upon completion of the wind farm and related transmission lines, expected for early 2015, this wind farm will generate around 140 GWh of energy per year while reducing and replacing non-renewable energy sources in Honduras.
Why do we fund this investment?
The project has high developmental impact as it will provide renewable energy capacity to a country heavily dependent on fossil fuel-based energy. Honduras' installed capacity is around 1,700 MW, of which about 60% is non-renewable. FMO's involvement in the financing of this project is additional because, next to our own loan, we have catalyzed long-term USD financing from other lenders, which matches the long-term nature of this type of investment. In addition to its positive environmental and developmental impact, this project is expected to generate over 250 jobs during construction and over 20 during operations.
More investments
| Date | Total FMO financing |
|---|---|
| 12/7/2017 | USD 10.50 MLN |
- Region
- Latin America & The Caribbean
- Country
- Honduras
- Sector
- Energy
- Effective date
- 11/22/2013
- Total FMO financing
- USD 42.50 MLN
- Funding
- FMO NV
-
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B+