FRV, the Sponsor, indirectly owns 100% of the Project. FRV is a leading global utility-scale solar power developer with extensive experience in the development and financing of solar PV and solar thermal energy projects on a global scale. FRV is fully owned by Abdul Latif Jameel Company Ltd., a Saudi Arabian conglomerate with interests in energy, transportation and financial services, among others. FRV’s capabilities cover all stages of development of solar power projects.

The Project cost is estimated at US$250 million. IFC is considering providing a senior loan totaling US$17.33 million from its own account; a senior syndicated loan totaling US$34.66; and a senior loan of US$13 million from IFC acting in its capacity as implementing entity for the Managed Co-Lending Portfolio Program.

The Project will be developed on leased land with a total area of approximately 900 hectares, privately owned. The site is located in the State of Jalisco about 70km southeast of the city of Aguascalientes, Mexico.

According to IFC’s Policy on Environmental and Social Sustainability, this project is Category B – Limited. E&S impacts and risks are expected to be limited, generally site-specific, and readily addressed through standard mitigation measures. The key E&S impacts and risks are those typically associated with greenfield solar PV projects. During construction, key risks and impacts include temporary influx of labor, air quality and noise, occupational health and safety (OHS), contractor management, community safety, vegetation removal and waste management. During operations, the main risks and impacts are related to stakeholder engagement, drainage, and water use and availability.