Quick Facts

Countries:
Where the impacts of the investment may be experienced.
  • Brazil
Location: Minas Gerais
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: 2017-04-25
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: Pirapora Solar Holding, S.A.
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 Amount (USD): $ 0.11 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.

Currency conversion note:
Bank reported 240,000,000
Converted using 2017-04-25 exchange rate.

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Primary Source

Original disclosure @ IIC website
Updated in EWS: 2017-08-16
Disclosure Date: 2017-03-22
Pirapora I Solar PV Project
IIC-11924-01

Project Description
The Pirapora I project consists of the design, construction, commissioning and operation of five solar photovoltaic (PV) plants with a combined capacity of 191.5 MW, as well as a 10.3-kilometer high voltage transmission line (138kv) and other interconnection facilities (the Project) to be located in the municipality of Pirapora, State of Minas Gerais, Brazil.The Inter-American Investment Corporation (IIC)'s participation in the Project will be through a short-term Bridge Loan facility denominated in Brazilian reales to provide funding for certain construction costs.
Investment Description
EDF EN do Brazil is a subsidiary of EDF Energies Nouvelles, a French multinational energy service provider and subsidiary of EDF Group. EDF Energies Nouvelles, active in 21 countries, is engaged in the development and management renewable energies, primarily solar photovoltaic and wind. Canadian Solar Inc. (CSI) operates solar projects in 24 countries across six continents, with a generation capacity of 13.5 GW. The Pirapora 1 project was acquired from the project developer Solatio and is currently owned jointly by EDF EN do Brazil and CSI (80% and 20% respectively).
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).
Bank Documents