CP, the Sponsor, is a power generation company based in Buenos Aires, Argentina with operations across the country. CP is the largest private power generation company in Argentina with a total installed capacity of 3,810MW (out of which 147MW are from wind energy IFC financed projects La Castellana and Achiras) plus 659MW currently under construction.  Additionally, CP holds minority stakes in three companies that have an installed capacity of 2,554MW.

In the last twelve months ending in September 30, 2018, CP’s generation was 14,984 GWh, representing 17,5% of the country’s privately-owned power generation.

 The total project cost is estimated at approximately US$120 million. IFC is considering providing up to US$30 million in the form of an A Loan, a syndicated loan of US$31 million and a US$15 million loan from IFC acting in its capacity as implementing entity for the Managed Co-Lending Portfolio Program. IFC would also provide an interest rate swap to hedge the project debt.

 The Project will be developed in a rural, greenfield site on which the Company has an usufruct with existing private landowners. The site is located 30km northwest of the city of Bahia Blanca, in the province of Buenos Aires.                                                 

This is a Category A project according to IFC’s Policy on Social and Environmental Sustainability. Preliminary results from avifauna baseline study found that La Genoveva windfarm is located in a nesting area of endangered species Loica Pampeana and thus impacts from the project could be significant, irreversible or  unprecedented if appropriate measures are not implemented.