Quick Facts

Countries:
Where the impacts of the investment may be experienced.
  • Panama
Location: Province of Colón
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: 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: 2016-09-20
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: Gas Natural Atlantico S. de R.L. and Costa Norte LNG Terminal S. de R.L.
The holder of the loan, grant, or other investment.
Sectors:
The service or industry focus of the investment. A project can have several sectors.
  • Construction
  • Energy
  • Infrastructure
Investment Type(s): Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD): $ 200.00 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
Converted using 2016-09-20 exchange rate.
Project Cost (USD): $ 900.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.

Currency conversion note:
Bank reported
Converted using 2016-09-20 exchange rate.

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Primary Source

Original disclosure @ IIC website
Updated in EWS: 2017-08-03
Disclosure Date: 2015-10-20
Costa Norte Gas-fired Thermal Power Plant and LNG Terminal Project
IIC-PN-L1123

Project Description
This project funds the Costa Norte Power Generation project, a liquid natural gas powered plant being constructed by two companies: Gas Natural Atlántico S. de R.L. and Costa Norte LNG Terminal S. de R.L.. The project will include an 180,000 cubic meter liquid natural gas storage tank, a regasification facility, a 381megawatt net combined cycle gas-fired power plant; and a 230 kilowatt transmission line of approximately 17 km connected to Panama's national power grid.
Investment Description
Contact Information
*no contact information available* 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