31458 - Real LRIF

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Summary of Investment Information

Project Number

31458

Company Name

LATIN RENEWABLES INFRASTRUCTURE FUND LP

Date SPI Disclosed

Apr 11, 2012

Country

Latin America and the Caribbean Region

Region

Latin America and the Caribbean

Projected Board Date

May 30, 2012

Environmental Category

FI-1 - Significant

Status

Active

Last Updated Date

May 20, 2025

Department

Equity Portfolio Management

Industry

Financial Markets

Previous Events

Approved : May 25, 2012
Signed : Jun 22, 2012
Invested : Jul 30, 2012

Sector

Private Equity/Venture Cap Fund - Regional

Project Description

The proposal is for a US$15 million equity investment, not to exceed 20% of total commitments, in the Latin Renewable Infrastructure Fund LP (”LRIF” or the “Fund”), a 10-year closed-end private equity fund seeking to raise US$150 million to invest in 8-12 infrastructure projects in the renewable power and energy efficiency sectors of Latin America and the Caribbean (“LAC”).

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan
Equity	15.0

Development Impact

(i) Reduction of CO2 and other GHGs: Fund will invest in renewable energy and cleaner technology projects, thus contributing to a reduction in carbon emissions;
(ii) Economic and private sector development: Fund will provide equity capital and project financing to help promote growth and job creation in local communities;
(iii) Demonstration Effects: Fund will strengthen investees both from a financial and governance perspective and help them scale up their operations ,thus making them more attractive targets for investment and acquisition. This will help to demonstrate the business case for renewable energy and clean technology projects and encourage private investors to invest in this sector.

Without IFC's involvement, the fund mgr will face difficulties (a) achieving a first closing or reaching its target size for the Fund and (b) expanding its operations into Latin America. IFC will play a catalytic role by: (i) encouraging the participation of other investors including both IFIs and private sector investors at a time when fundraising is very difficult, in particular for first-time fund managers; (ii) providing critical market knowledge, contacts and support to the Fund from its own experience in renewable and clean energy projects; (iii) helping the fund manager structure the Fund with best practice fund structure, terms, governance and E&S standards; (iv) being able to provide additional equity and/or debt financing to investee companies.

Indicator	Calendar Year 2022	Calendar Year 2023	Calendar Year 2024
Employment: New Jobs in Fund Investees (#)	Not Available	Not Available	Not Available
Employment (#)/Direct Employment (Field Name: Total Employment (#))	Not Available	Not Available	Not Available
Employment (#)/Direct Employment (Field Name: Female Employment (#))	Not Available	Not Available	Not Available
Corporate Governance: Investees where Fund Manager has Board Seat (%)	Not Available	Not Available	Not Available
E&S Management Systems (Y/N)	Not Available	Not Available	Not Available
Investees with SME Classification at time of Acquisition (%)	Not Available	Not Available	Not Available
Investees in IDA Countires (%)	Not Available	Not Available	Not Available
GWh of Electricity Produced by the Power Generator expressed on a per annum basis	Not Available	Not Available	Not Available

E&S Category Rationale / Risks and Mitigation

In accordance with IFC's Access to Information Policy, IFC will periodically disclose the names, locations and sectors of sub-projects that have been supported by IFC investments through private equity funds, subject to regulatory constraints and market sensitivities. The sub-project(s) listed below reflect(s) the status of the portfolio as of January 1, 2025.

Investee	Country Of Investment	Sector
Acajutla Energia Solar 1	El Salvador	V-BF - Solar - Renewable Energy Generation
PanamaSoalr2	Panama	V-BF - Solar - Renewable Energy Generation
Proyecto la Trinidad	El Salvador	V-BF - Solar - Renewable Energy Generation
Solgeca El Salvador	El Salvador	V-BF - Solar - Renewable Energy Generation
Hidroelectrica Santa Rita SA	Guatemala	X-XX- Other (For Non-Investment Projects)

As a Private Equity Fund, the main risks of this project are associated with the impacts of the Fund’s investments in renewable energy sub-projects, consisting mostly of hydropower sub-projects in the 5 to 30 MW range and wind power sub-projects in the 20 to 60 MW range (with the possibility of going over 100 MW as well), in Panama, Honduras, Nicaragua, Colombia, Costa Rica, Peru, and potentially other countries in Latin America and the Caribbean. While most projects are not particularly large, many of them could potentially have negative impacts on local communities, indigenous peoples and biodiversity, and other risks such as, but not limited to, occupational health and safety, resettlement, and cultural heritage. The Fund does not have an E&S management system in place but will develop and implement one as part of the IFC investment.

Contacts

For Inquiries About the Project, Contact

Steve Pearlman
Managing Partner
REAL Infrastructure Capital Partners LLC
Tel. +1 713-818-3900
spearlman@realinf.com

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This Summary of Investment Information (SII) is prepared by IFC to disclose a factual summary of the main elements of the potential investment. It also includes findings and recommendations related to environmental and social considerations regarding this potential investment. The purpose of the SII is to enhance the transparency of IFC’s activities. For any project documentation or data included or attached herein, whether prepared by the project sponsor or otherwise, authorization has been given for public release by the project sponsor. IFC considers that this SII is of adequate quality for release to the public, but has not necessarily independently verified all of the project information therein. It is distributed in advance of IFC Board of Directors’ consideration and may be periodically updated thereafter. Board dates are estimates only and this document should not be construed as presuming the outcome of the Board Directors’ decision. The following SII is disclosed in accordance with IFC's Access to Information Policy (AIP) that went into effect on January 1, 2012.

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Task Title & Description	Anticipated Completion Date	Status	Comments	Completion Date
Nominate officers		Completed	Completed	06/22/2012
Establish SEMS		Completed	Completed	06/22/2012
Develop guidelines		Completed	Completed	06/22/2015
Staff Training		Completed	Completed	06/22/2012

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