Genersa and Mecer Solar Power Plants

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The American company Terra Group announced the development of Helios Solar and Solar del Sur power plants, located at Choluteca (25 MW in capacity each). In February, the sponsors signed a 50-year power purchase agreement with the state-owned electricity distribution company Empresa Nacional de Energía Eléctrica (ENEE). The investment was estimated at US$ 69,3 million. In December 2014, when the sponsor was granted US$ 9,8 million in loans from the OPEC Fund for International Development (OFID). Financial closure was achieved in December 2016, when the sponsor was granted US$ 16 million in new loans from the Dutch bank FMO. The remaining capital expenditures were set to be financed with equity. The special purpose companies Generacion Renovable de Honduras S. A. de C.V. (GENERSA) and Sociedad Mecanismos de Energia Renovable S. A. DE C.V. (MECER) were created to manage the projects. Commercial operations were scheduled to begin in 2016.