Project detail - EOLO DE NICARAGUA S.A.

EOLO DE NICARAGUA S.A.

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Who is our client

The project company Eolo de Nicaragua S.A. has been established by Globeleq and Mesoamerica Power to develop a 44 MW wind project located at the shore of Lake Nicaragua. Both sponsors are experienced operators and investors in the (renewable) power sector.

Funding objective

The Infrastructure Development Fund's subordinated loan is being used for the development and construction of the project. This includes a transmission line, a new sub-station and wind turbines.

Why we fund this project

The project will generate low-cost, clean and sustainable energy in a country where large shortages of energy exist and where the energy matrix is dominated by fossil fuels. The long tenor of FMO's loan is not offered by commercial parties, and would therefore otherwise not be available to the borrower.

More investments

Date Total FMO financing
8/6/2020 EUR 0.04 MLN
4/20/2012 USD 12.00 MLN
Website client
http://www.arctas.com
Region
Latin America & The Caribbean
Country
Nicaragua
Sector
Energy
Signing date
4/20/2012
Total FMO financing
USD 28.00 MLN
Fund
FMO
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+