Quick Facts

Countries:
Where the impacts of the investment may be experienced.
  • Brazil
Location: Sergipe
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 Development Bank (IADB)
  • Inter-American Investment Corporation (IIC)
Bank Risk Rating: A
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: 2017-10-31
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: Centrais Eletricas de Sergipe S.A. - CELSE
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): $ 288.00 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: 2017-11-01
Disclosure Date: 2017-02-23
Porto de Sergipe LNG Power Plant
IIC-12048-01

Project Description
The project, located in the State of Sergipe in the Northeastern part of Brazil, consists of the design, construction and operation of a 1,500 MW combined cycle natural gas fired power plant, a 33km transmission line and associated facilities - including a marine regasification terminal, a submarine gas pipeline, and water intake as well as outflow pipes (the "Project"). The total Project cost is approximately US$1.3 billion. It is anticipated that the IDB/IIC financing will consist of a combination of Brazilian Reais and US Dollar financing for an amount of US Dollar 238 million equivalent.IIC and the Inter-American Development Bank Group will provide long term financing in Brazilian Reais which is not available in the market. The plant will be the largest thermal power plant in South America. The plant will increase firm energy capacity in Brazil and will help to reduce the carbon emission by displacing carbon intensive plants fueled by oil and coal.
Investment Description
Total project cost is estimated at US$ 1.8 billion, and IIC proposed investment in the project is up to US$ 288 million A loan (IIC US$38 million, China Fund US$50 million and IDB US$200 million).
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