El Canada Hydroelectric Project

completed

Generadora de Occidente Ltda. of Guatemala was formed in 1999 to undertake the project and is 100% owned by EGI, through subsidiary companies. The purpose of the venture is to expand Guatemala''s base of hydroelectricity and support Guatemala''s merchant power industry. Developmental impacts are expected to include: (i) support of an innovative financing structure that will reinforce a competitive market and attract long-term investment; (ii) improvement in sector efficiency through enhanced price stability; and (iii) demonstration, both nationally and regionally, that renewable energy can attract competitive financing. IFC''s role in the project is the support of Guatemala''s power sector reform and the investment of long-term debt in an innovative power project.