As an environmental and sustainability practitioner involved in developments financed by multilateral financial institutions and Equator Banks (see examples below), I value the opportunity to network with and learn from my professional peers. Several of my team members and I are members of the International Association for Impact Assessment, the leading global network on best practice in the use of impact assessment. Also, my former colleagues from the European Bank will be collecting an IAIA award. So it seems only appropriate for Prizma to be sponsoring IAIA’s 35th Annual Conference themed Impact Assessment in the Digital Era. IAIA15 will be held from 20-23 April 2015 in Florence, Italy, and I look forward to seeing some of you at the event. You can download the final conference program here. - Shortlink: http://wp.me/p27qSt-Ka
A recent example of Prizma’s impact assessment related work includes the Penonomé Wind Project. This is the largest wind development in Central America. Prizma became involved after the project had already been permitted and the developers had engaged with Equator Banks, the International Finance Corporation (IFC), and other financial institutions to co-finance this phased development.
To satisfy the social and environmental requirements of target financial institutions in a timely manner, and better align Penonomé with the IFC Performance Standards and the Equator Principles, some additional studies and documents were completed by Prizma’s team. This was accomplished with the support of Panamanian consultants and other contractors already engaged on the projects to avoid duplication and keep costs at bay.
In August 2013, Goldwind USA announced that it closed financing for Phase I (55MW) of the Penonomé Wind Farm. Banco Internacional de Costa Rica, S.A. (BiCSA) and Banco Espirito Santo de Investimento, S.A. (BESI) were the Mandated Lead Arrangers for this US$71 million project finance deal. In December 2014, the International Finance Corporation (IFC) announced that it completed a $300 million financing package for the construction of Phase II and Phase III of the Penonomé Project, controlled by InterEnergy Holdings.
As it happens, during that time, IAIA’s Washington Area Branch had organized a seminar on Wind Power Challenges and Solutions, which was hosted by the Inter-American Development Bank (IDB) in Washington DC. The meeting provided valuable insights into lessons learned, and emerging environmental expectations of financiers of wind projects in emerging markets.