Quick Facts

Countries:
Where the impacts of the investment may be experienced.
  • Mexico
Location: Guanajuato, Morelos, Chihuahua
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Banks:
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • Inter-American Investment Corporation (IIC)
Bank Risk Rating: B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Board Decision Date: 2017-12-05
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower or Client: FV Mexsolar I, FV Xoxocolta, Conejos Médanos
The holder of the loan, grant, or other investment.
Sectors:
The service or industry focus of the investment. A project can have several sectors.
  • Energy
Investment Type(s): Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD): $ 139.34 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.

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Primary Source

Original disclosure @ IIC website
Updated in EWS: 2018-02-02
Disclosure Date: 2017-10-06
X-Elio's Solar Projects
IIC-11894-02

Project Description

Project includes finance for three projects:

Project Name: Guanajuato Solar PV
Project Borrowers: FV Mexsolar I, S.A.P.I. de C.V.;FV Mexsolar II, S.A.P.I. de C.V.;
Sponsoring Entity: X-ELIO Energy, S.L.
Financing Requested: US$45,347,000
Project Location: Los Rodriguez, San Miguel de Allende (Guanajuato)

The Guanajuato Solar PV Project consists of the design, construction, commissioning and operation of a solar photovoltaic plants with a capacity of 70.35 MWp that will connect to the Mexican Comision Federal de Electricidad ("CFE") national grid system; and all associated transmission and interconnection facilities. The Project is being developed by X-ELIO Energy, S.L. (the "Sponsor"), in Los Rodriguez, San Miguel de Allende (Guanajuato) in Mexico. The total project cost is approximately USD 62,690,000.

Project Name: Xoxocotla Solar PV
Project Borrowers: X-Elio FV Xoxocolta, S.A.P.I de C.V.
Sponsoring Entity: X-ELIO Energy, S.L.
Financing Requested: US$ 44,071,000
Project Location: Xoxocotla (Morelos)

The Xoxocotla Solar PV Project consists of the design, construction, commissioning and operation of a solar photovoltaic plants with a capacity of 81.40 MWp that will connect to the Mexican Comision Federal de Electricidad ("CFE") national grid system; and all associated transmission and interconnection facilities. The Project is being developed by X-ELIO Energy, S.L. (the "Sponsor"), in Xoxocotla (Morelos)in Mexico. The total project cost is approximately US$65,882,000.

Project Name: Conejos - Terranova Solar PV Project
Borrowers: Conejos Médanos S.A.P.I de C.V
Sponsoring Entity: X-ELIO Energy, S.L.
Financing Requested: Approximately US$49,927,000
Project Location: Municipality of Juarez, Chihuahua State, Mexico

The Conejos - Terranova Solar PV Project consists of the design, construction, commissioning and operation of a solar photovoltaic plants with a capacity of 93.71 MWp that will connect to the Mexican Comisión Federal de Electricidad (“CFE”) national grid system; and all associated transmission and interconnection facilities. The Project is being developed by X-ELIO Energy, S.L. (the “Sponsor”), in Ascension, Suarez (Chihuahua) in Mexico. The total project cost is approximately USD 74,651,000.

ENVIRONMENTAL REVIEW

Visit the original disclosure on the IIC's website to read more and view the Environmental and Social Review Summaries.

Investment Description

The financial plan is expected to include Inter-American Investment Corporation ("IIC") and Inter-American Development Bank ("IDB") loans and co-loans from the China Co-Financing Fund for Latin America and the Caribbean ("China Fund"), the Canadian Climate Fund for the Private Sector in the Americas ("C2F") and the Instituto Credito Oficial ("ICO"), with 20-year door to door tenors, while a commercial bank tranche which will have a 16-year tenor.

Private Actors
Contact Information

ACCOUNTABILITY MECHANISM OF IIC

The Independent Consultation and Investigation Mechanism (MICI) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an Inter-American Development Bank (IDB) or Inter-American Investment Corporation (IIC)-funded project. If you submit a complaint to MICI, they may assist you in addressing the problems you raised through a dispute-resolution process with those implementing the project and/or through an investigation to assess whether the IDB or IIC is following its own policies for preventing or mitigating harm to people or the environment. You can submit a complaint by sending an email to MICI@iadb.org. You can learn more about the MICI and how to file a complaint at http://www.iadb.org/en/mici/mici,1752.html (in English) or http://www.iadb.org/es/mici/mici,1752.html (Spanish).

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