11444 - El Canada Hydroelectric Project

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Summary of Proposed Investment

Project Number

11444

Company Name

Generadora de Occidente Limitada

Date SPI Disclosed

May 13, 2002

Country

Guatemala

Industry

Infrastructure

Projected Board Date

Jun 12, 2002

Status

Completed

Sector

Large Hydro - Renewable Energy Generation

Department

Regional Industry INF LAC & EUR

Environmental Category

B - Limited

Previous Events

Approved : Jun 26, 2002
Signed : Dec 12, 2002
Invested : Jan 28, 2003

Project Description

Generadora de Occidente Ltda. of Guatemala was formed in 1999 to undertake the project and is 100% owned by EGI, through subsidiary companies. The purpose of the venture is to expand Guatemala''s base of hydroelectricity and support Guatemala''s merchant power industry.

Developmental impacts are expected to include: (i) support of an innovative financing structure that will reinforce a competitive market and attract long-term investment; (ii) improvement in sector efficiency through enhanced price stability; and (iii) demonstration, both nationally and regionally, that renewable energy can attract competitive financing.

IFC''s role in the project is the support of Guatemala''s power sector reform and the investment of long-term debt in an innovative power project.

Sponsor / Cost / Location

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

Development Impact

This is a Category B project according to IFC’s Procedure for Environmental and Social Review of Projects, because a limited number of specific environmental and/or social impacts may result which can be avoided or mitigated by adhering to generally recognized performance standards, guidelines or design criteria.
Location of environmental documents In locally affected community
Municipalidad de Zunil
5 avenida 1-98 Zona 1, Municipio de Zunil
Departamento de Quetzaltenango

Municipalidad del Nuevo Palmar
Carretera Intertroncal de Occidente, Km 190
Municipio del Nuevo Palmar,
Departamento de Quetzaltenango

Contacts

For Inquiries About the Project, Contact

Juan Carlos Mendez, Project Director
Energía Global International, Ltd
Centro Gerencial Las Margaritas, Torre I Oficina 801, Zona 10
Guatemala City, Guatemala
Email: jcmendez@energiaglobal.com

This Summary of Project Information (SPI) is prepared and distributed to the public in advance of the IFC Board of Directors' consideration of the proposed transaction. Its purpose is to enhance the transparency of IFC's activities, and this document should not be construed as presuming the outcome of the Board decision. Board dates are estimates only. The following SPI is disclosed in accordance with IFC's Disclosure of Information Policy that went into effect September 1998.

The map is for illustrative purposes and does not imply the expression of any opinion on the part of the World Bank, concerning the legal status of any country or territory or concerning the delimitation of frontiers or boundaries. Country borders or names do not necessarily reflect the World Bank Group's official position. In some cases, available project location information is limited to the country of the project's activities. Locations are approximate.

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