Summary of Proposed Investment
Project Number
5024
Company Name
Orzunil I de Electricidad, Limitada
Date SPI Disclosed
Mar 4, 1996
Country
Guatemala
Industry
Infrastructure
Status
Completed
Sector
Geothernal - Renewable Energy Generation
Department
Gbl Infrastructure & Natural Resources
Environmental Category
B - Limited
Previous Events
Approved : Feb 6, 1997
Signed : Apr 8, 1998
Invested : Aug 27, 1999
Project Description
Summary Of Project Information (SPI)
| Project Name | Guatemala-Orzunil S.A. |
| Region | Central America |
Sector
Project No005024
Projected Board DateApril 15, 1996
Company NameOrzunil S.A.
Technical Partner and/or Major Shareholders
Ormat Industries Ltd. (Israel)(Technical partner with 10% of equity), Scudder Latin American Infrastructure Fund (50 % of the equity), IFC (20 % of the equity), Commonwealth Development Corp. (20 % of the equity).
Project Cost Including proposed IFC investment
US$67.6 million total project cost, with an IFC investment of US$17 million for IFC’s own account, and US$15 million for the account of participants.
Location of project and Description of site
The Project is a 24 MW Geothermal Power Project in Quetzaltenango Province, approximately 200 km west of Guatemala City, Guatemala. The site is located at a geothermal field in a mountainous/volcanic part of Guatemala that has been partially developed for agriculture.
Description of Company and Purpose of Project
The Company will build, operate and own a 24 MW geothermal power project. The Company’s shareholders will include Ormat, IFC, the Commonwealth Development Corp. (U.K.) and the Scudder Fund for Latin American Power (U.S.). The purpose of the Project is to generate electricity in a manner which uses Guatemala’s indigenous resources while minimizing any environmental impact.
Environmental Category and Issues
This is a category B project according to IFC’s Environmental Review Procedure. Key issues relate to land use modifications, air emissions and discharge of liquid effluent. The Environmental Impact Analysis indicates that the Project will not impact natural habitat. The Project is a closed circuit with re-injection of geothermal fluids into formation. Therefore no effluents will be discharged. Facilities will be equipped with hydrogen sulfide detection devices, although initial data on the geothermal fluids indicated a low potential for production of that gas. The Project will be designed and operated in accordance with World Bank environmental, health and safety policies and guidelines.
The is March 6, 1996 from the Public Information Center.
| Host country location of environmental documents | Comision Nacional del Medio Ambiente, Avenida Petapa 25-59, zona 12 Guatemala City, Guatemala |
Date SPI sent to PIC March 4, 1996
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 676-0365
Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).
Sponsor / Cost / Location
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