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Upgrading power grids in Colombia
Project
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Signature date
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Location
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Colombia
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Financing tool
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Financing amount (Euro)
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12585454
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Financing details
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USD 14m Equity Investment
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Customer
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ACON SUNRISE INVESTORS I L.P
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Type of customer
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Company
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Country of headquarters
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Colombia
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Project number
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PCO1029
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Environmental and social ranking
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B+
This information is given at the time of signature, without prejudice to any developments in the operation/project.
Proparco has invested in Rymel, alongside other investors, to finance employment and the expansion of the company’s generation capacity.
Client presentation
Rymel (Reparación Y Mantenimiento ELéctrico) is an electrical equipment manufacturer specializing in voltage transformers (89% of EoY 2023 sales) for last-mile distribution of electricity to households and industrial consumers.
Project description
The project involves a USD 14m investment to acquire 70% of the company, alongside the ACON fund, the German DEG and the Dutch FMO. A CAPEX plan for the expansion of generation capacity is also included in the financing plan.
Project impact
The project is expected to support more than 1,400 direct and indirect jobs. It will also reinforce and upgrade power grids in Colombia.
The project should contribute to the achievement of SDGs 8 (“Decent work and economic growth”), 9 (“Industry, innovation and infrastructure”) and 13 (“Climate action”).