Los Prados Solar Park

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The Norwegian company Scatec Solar (70%) and the Norwegian Investment Fund for Developing Countries Norfund (30%) announced the development of the Los Prados photovoltaic (PV) park located in Namasigue (Choluteca Department), Honduras (53.31MW in total capacity). The project consisted in the development of five power plants to be managed by the following special purpose companies: Energia Solares S.A., Compania Fotovoltaica Los Prados S.A., Compania Fotovoltaica Surena S.A., Compania Foto Sol S.A. and Compania Generaciones Energeticas S.A. The Honduran regulatory agency issued 50-year operating license contracts to each of the project companies in 2013. In 2014, the project companies signed a 20-year power purchase agreements (PPA) with the state-owned distribution company Empresa Nacional de Energia Electrica (Enee). The investment was estimated at US$ 100 million. In 2016, the Central American Bank for Economic Integration (CABEI) approved a US$ 40 million loan to partially finance the construction and commissioning of the Solar Photovoltaic Los Prados Project.