Agua Fria Solar Power Plant

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A partnership of the Norwegian companies Scatec Solar ASA (40%) and Norfund KLP (30%) and the local company PEMSA (30%) was granted the authorization to build and operate a 60-MW solar power plant located at Nacaome, Valle Department . The electricity generated by the power plant was set to be directed to the country's national grid (a 20-year power purchase agreement (PPA) was signed with Honduras’s state-owned company Empresa Nacional de Energía Eléctrica). The project cost was estimated at US$ 125 million. Operations were expected to commence in the second semester of 2015. In December 2014, Export Credit Norway, Norwegian Export Credit Guarantee Agency and Corporación Interamericana approved a US$ 90 million loan. Operations commenced in May 2015.