Aura Solar II Power Project

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Corporacion Aura Solar, a subsidiary of the Mexican company Gauss Energia, announced the development of the Aura Solar II power plant at Choluteca, Honduras (61 MW in capacity). The sponsors signed a 20-year PPA with the state-owned company ENEE. The sponsor created the special purpose company Energia Cinco Estrellas S.A. de C.V. to manage the project. Investment was estimated at US$ 120 million. Financial closure was achieved in March 2013, when the sponsor was granted a US$ 26.35 million financing package from the IFC (US$ 1.35 million - risk management; US$ 25 million - loan). Bancomext and the German development bank DEG also provided financing to the project (US$ 45.5 million each institution). The Spanish company Isolux-Corsan was responsible for the engineering, procurement and construction (EPC) of the plant. Operations commenced in August 2015.