Quick Facts

Where the impacts of the investment may be experienced.
  • Mexico
Location: Viesca, Coahuila; San Luis de Paz, Guanajuato
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.
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: 2017-12-15
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: Enel (Villanueva Solar; Parque Solar Villanueva Tres; Parque Solar Don Jose)
The holder of the loan, grant, or other investment.
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): $ 125.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD): $ 1,032.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.

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Primary Source

Original disclosure @ IIC website
Updated in EWS: 2018-01-16
Disclosure Date: 2017-11-13
Villanueva I & III and Don Jose Solar Projects

Project Description
IIC's SCOPE OBJECTIVE: Enel S.p.A. (Enel), through its renewable energy subsidiary Enel Green Power, S.p.A. (EGP or the Client), is seeking financing for a portfolio of three solar projects in Mexico: the Villanueva I Solar Project (427 MW), the Villanueva III Solar Project (327 MW) and the Don Jose Solar Project (238 MW). The Projects were awarded long-term Power Purchase Agreements (PPAs) in 2015 in the first energy auction held by Mexico’s Centro Nacional de Control de Energía (CENACE) under its new regulatory framework for the energy sector. Under the PPAs, the Projects will supply a fixed amount of energy (from years 1-15) and Mexican clean energy certificates (CELs) to the Comisión Federal de Electricidad (CFE), the state-owned Mexican generator, distributor and marketer of electricity. Brief Project Description:Villanueva I & III are located in the municipality of Viesca, in the North of Mexico in the Coahuila state. Don Jose is located in in the municipality of San Luis de Paz, in the center of Mexico in the Guanajuato state. The projects will connect into the CFE national grid system. The Projects are being developed by EGP through its Mexican subsidiary, Enel Green Power Mexico S.R.L. de C.V. (EGP Mexico).The Projects will contribute to the Government of Mexico's (GOM) objectives of diversifying its electricity matrix, by delivering clean, solar PV energy and supporting the push to create a wholesale electricity market, while reducing the Country's dependency on thermal energy, as Mexico's goal is for clean energy sources to provide 50% of the nation's electricity generation mix by 2050. See the Original Disclore on the IIC website for the Bank's Environmental Review and related documents.
Investment Description
The equity requirement for the long-term financing to meet the debt sizing criteria is USD 314 million, and the remainder of the Project Cost is expected to be funded by Senior Loans from the IDB Group, other international financial institutions and a group of commercial banks.
Private Actors
Enel SpA, together with its subsidiaries, operates as an integrated electricity and gas company in Europe, Latin America, and internationally. The company generates, transmits, distributes, transport, and sells electricity; produces and distributes gas; and engages in the transport, storage, and regasification of LNG.
Contact Information
Client Contact name: Francesco Carbonara Title: Finance and Insurance Phone number: +39 06 8305 5159 E-mail address: francesco.carbonara@enel.com Client Contact name: Jonathan Velazquez Title: Engineering & Construction Phone number: +52 55 2497 2145 E-mail address: jonathan.velazquez@enel.com 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).