MECANISMOS DE ENERGIA RENOVABLE S.AStatus: Approved investment
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Who is our customer
MECER is a company in Honduras, owned and managed by the Energy Division of Grupo Terra. Since early 2000, Grupo Terra has focused its energy investments on renewables. MECER is their first solar photovoltaic (PV) investment, with 25MWac installed capacity. The mandate for MECER was signed by FMO in Q2 of 2014 and all senior debt funding was contracted in December 2014.
What is our funding objective?
The objective of MECER's senior debt funding is to support all investments for the development, construction and initial start of its operations. The latter is expected in Q3 of 2015. FMO acted as lead arranger for this transaction, successfully mobilizing long-term funding from DEG, Proparco, OFID and ICCF.
Why do we fund this investment?
Grupo Terra has a vision and a long-term policy on investing in renewable energy, and as such is strongly aligned with FMO's 2020 strategy for doubling impact and halving footprint. FMO's support is intended to facilitate the development of and create access to renewable energy in the service of tackling climate change.
- Website customer/investment
- Latin America & The Caribbean
- Effective date
- Total FMO financing
- USD 12.50 MLN
- 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)