IIC approves credit line for up to US$6 million to CELSOL, S.A. de C.V. in Mexico

09/29/2010


Washington, D.C. - The Inter-American Investment Corporation (IIC) approved a credit line for up to US$6 million to CELSOL, S.A. de CV. (Optima Energía), to be used exclusively for carrying out energy efficiency initiatives in Mexico’s public lighting systems. Optima Energía is an ESCO (Energy Service Company).

Through its Program for High Development Impact Feasibility Studies for SMEs and with resources from the Korea-IIC SME Development Trust Fund, the IIC will provide technical assistance to carry out a feasibility study as a first step in the Programme of Activities under the Clean Development Mechanism for reducing CO2 emissions through energy efficiency in public lighting in Mexico.

According to Goldie Shturman, IIC investment officer in charge of the operation, "With this operation the IIC is supporting the first public lighting energy efficiency project under the ESCO model in Mexico, which does not require an initial investment by the municipalities. This initiative offers many possibilities for growth, not only in public lighting but in other sectors as well, by improving and protecting the quality of the environment in the country. The IIC’s participation is expected to encourage other investors and local banking institutions to finance similar projects and create a demonstration effect that allows the model to be replicated in other countries in the region."

About Celsol, S.A. de C.V. (Optima Energía)

Optima Energía was incorporated in 1988 as Celsol, S.A. de C.V. and became the leading solar thermal manufacturer in Mexico. In 1999 the company changed its focus by becoming an ESCO and concentrating on developing energy efficiency projects in Mexico, and grew to become the leading ESCO in the country. Its main focus has been the luxury five and six star hotel sector, and more recently it began targeting the public lighting sector. For additional information about Optima Energía, please visit www.optimaenergia.com.

About the IIC

The IIC is a multilateral financial institution that is a member of the Inter-American Development Bank (IDB) Group. The IIC’s mission is to promote the economic development of its regional member countries by encouraging the establishment, expansion, and modernization of private enterprises, particularly those that are small and medium in size. It does so by providing financing (in the form of equity investments, loans, guarantees, and other instruments) and advisory services to private enterprises in Latin America and the Caribbean. In 2009, the IIC reached US$1.4 billion in assets and approved 40 operations channeling US$299.8 million to SMEs in the region. For more information on the IIC's activities, please visit www.iic.int.

Contact: Goldie Shturman

Telephone: (202) 623-1665

Email: goldies@iadb.org