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San Jacinto: a 100% climate project to supply clean and affordable electricity
Project
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Signature date
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Location
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Nicaragua
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Financing tool
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Financing amount (Euro)
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18917963
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Financing details
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USD 21.4m loan
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Customer
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POLARIS ENERGY NICARAGUA SA
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Type of customer
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Company
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Country of headquarters
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Nicaragua
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Project number
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PNI1010
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Environmental and social ranking
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B+
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Climate co-benefits
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Project with climate co-benefits
This information is given at the time of signature, without prejudice to any developments in the operation/project.
Proparco has reiterated its support for the San Jacinto geothermal power plant project in Nicaragua via refinancing allocated to Polaris, which has been developing the project since 2010.
Client presentation
Polaris Infrastructure Inc. is a Canadian company specialized in the development and operation of renewable energy projects in Latin America.
Project description
The project involves refinancing the San Jacinto geothermal power plant in Nicaragua which had an initial capacity of 72 MW. The refinancing operation is combined with the construction of an additional 10 MW Binary Unit.
Project impact
The refinancing of the project will support the renegotiation of the PPA (Project Partnership Agreement) signed in 2020. Polaris will also be able to continue to develop its renewable energy activity in Latin America. This project is classified “100% climate” and will avoid an average of 174,600 tCO2e a year throughout the lifespan of the power plant. It will also support 1,600 jobs over the next 5 years.