Honduras solar developers tap multilateral lender

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Friday, October 10, 2014

Companies that plan to install photovoltaic parks in Honduras are looking to secure multilateral support.

IFC's lending pipeline includes requests from Compañía Hondureña de Energía Solar (Cohessa) and SunEdison, which have 20-year PPAs with state power company Enee.

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Cohessa's 70MWp Valle Solar project is planned for Nacaome in Valle department. The developer is a subsidiary of Inversiones y Representaciones Electromecánicas and looks to secure US$30mn from the lender for the US$120mn complex.

SunEdison, through Participaciones Choluteca Dos, plans to build a US$200mn solar project, HON3, which comprises three plants in Choluteca for a combined 80.8MWp. IFC would provide US$62.5mn.

Construction of both companies' projects is penciled in to begin this quarter, with operations startup targeted for 4Q15. IFC plans to mobilize additional funds.

Honduras' installed capacity in December totaled 982MW thermo, 558MW hydro, 106MW biomass and 102MW wind.

BNamericas will host its 11th Southern Cone Energy Summit in Lima, Peru, on November 12-13. Click here to download the agenda.