Comemsa is owned by Abengoa Mexico SA de CV, Servicios Auxiliares de Administracion SA de CV (a service company) and Eucomsa SA. Eucomsa is a global leader in the design and engineering of transmission and solar structures, and is owned by Abeinsa and Abengoa Solar. Abengoa Solar is a global leader in the application and development of solar technologies, as well as in the promotion and operation of solar energy plants. Abeinsa Ingenieria y Construcción Industrial SA, the flagship company of Abengoa SA and global leader in the EPC industry.

Total project cost is estimated at $40 million. IFC will provide a $24 million A loan for IFC’s own account to cover the expansion plan and refinance $4 million of existing debt.

24.0 million (USD)

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	24.0
Equity

* These investment figures are indicative

Comemsa is located in the industrial area of Apaseo el Grande, Guanajuato, a few kilometers away from the nearest residential area and close to the local railway line for transportation of raw material and finished products.

Key development impacts of the project include:
Supporting the construction of solar energy plants globally by providing a necessary component to the solar panel structure and encouraging the use of clean energy, thus reducing CO2 emissions through the implementation of clean energy plants.
Improving the infrastructure supply chain through the increased manufacture and sale of transmission towers across Latin America and in the USA to meet growing demand. As a result of increased focus on transmission capability in Mexico and Central American, energy access is expected to improve.
Supporting job creation in Mexico, a key objective for the Mexican government, both during the expansion and operation of the manufacturing facility.
     

IFC’s expected additionality includes:

Provision of long term finance to support Comemsa’s expansion plans and acquisition of technology and equipment to improve the renewable energy and infrastructure supply chains in Mexico, across Central America and Latin America as well as in the United States. This expansion will enable Comemsa to reach best practice production capacity for the industry.
Development of a long term strategic partnership with Comema’s parent company Abengoa SA, to support their growth plans in emerging markets in the areas of sustainable energy.
Technical support to Comemsa to ensure compliance with IFC’s Environmental & Social Performance Standards.

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 social impacts may result that can be avoided or mitigated by adhering to generally recognized performance standards, guidelines or design criteria.

Key environmental and social issues reviewed during the appraisal include the following: Comemsa’s social and environmental assessment and management systems; labor and working conditions including workplace air quality and occupational health and safety; emissions to air and water; solid waste disposal; and resource efficiency including potential to improve energy efficiency.

Comemsa has provided information on its current practices and policies that seek to address environmental and social risks and impacts to ensure that the proposed project complies with or, will upon implementation of measures agreed upon as part of IFC’s Investment documents, comply with host country laws and regulations and IFC''s Performance Standards (PS). IFC’s review of this investment included a visit to Comemsa''s plant in Apaseo El Grande, and meetings with key management personnel, including human resources, operational managers and support staff.

A detailed description of IFC’s environmental and social due diligence of this investment can be found in the Environmental and Social Review Summary (ESRS), which is also available on IFC’s website at http://www.ifc.org/projects.