Parques Eolicos del Caribe S.A.

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 The proposed transaction will finance the development, construction, operation and maintenance of a 50 MW greenfield wind power plant and related facilities. It entails an up to US$30 million A Loan, a client risk management product (i.e., interest rate swap) with a loan equivalent exposure of up to US$2 million, and a subordinated loan of up to US$17 million from the blended finance component from the Canada Climate Change Program (CCCP), which is a program financed by the Government of Canada and administered by IFC to support IFC's climate change mitigation projects. The total project cost is estimated at US$132.8 million. The project is being developed by Parques Eólicos del Caribe S.A (“PECASA” or the “Company”), a Special Purpose Vehicle (SPV), in the City of Guayubin (Montecristi Province), in northwestern Dominican Republic. Akuo Energy (“Akuo” or the “Sponsor”) owns 90.5% of PECASA. The project is under construction and has a total capacity of 50MW, consisting of 25 Gamesa G114-2.1 MW, 80m hub height (“HH”) and 114m rotor diameter (“RD”) Wind Turbine Generators (“WTGs”). The WTGs will connect to a new substation also located in Guayubin that will increase the voltage from 34.5kV to 138kV. To facilitate the connection of the wind power plant, the Balance of Plant (“BoP”) Contractor will build a new 138kV 14km overhead line (OHL) that will tee into an existing 138kV OHL. Ownership of the new OHL and the substation will be transferred to the Grid Operator, Empresa de Transmisión Eléctrica Dominicana (“ETED”) upon commissioning. The project also involves the opening or improvement of 25 km of access roads. It is estimated that the construction period for the project will last 18 months. The nearest communities (El Copey and Los Limones) are located more than 2 km away from project’s boundaries. Akuo has contracted the construction works under three main agreements: (i) with Akuo Energy including development services, construction management, and operations services; (ii) the Turbine Supply Agreement (“TSA”) with Gamesa covering the engineering, supply, delivery, installation, and commissioning of the WTGs, and (iii) the BoP for the civil and electrical works with Sociedad Española de Montajes Industriales S.A. (“SEMI”). Maintenance of the WTGs will also be contracted to Gamesa under an Operation and Maintenance (“O&M”) contract. The electricity generated by the project will be purchased by Corporación Dominicana de Empresas Eléctricas Estatales (“CDEEE”) acting as off-taker under a Power Purchase Agreement (“PPA”) with a 20 year duration starting at the Commercial Operations Date (COD).