Renace SA

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This project is a 66-MW hydroelectric plant located in Rio Cahabon, Alta Verapaz. The plant will be developed on a Build-Own-Operate basis by Renace SA(Corporación Multi Inversiones/CMI). The total project total was estimated at $90 million in 1997. The power plant was scheduled to start commercial operations in January 1999, but it actually commenced operations in April 2004. Renace SA signed a 15 year power purchase agreement with Instituto Nacional de Electrificacion (INDE), the Guatemalan national electricity utility company, in 1993. This PPA was one of the ten that INDE signed with private developers in order to alleviate energy shortages due to insufficient generation capacity. In , CMI announced the expansion of the power plant. The company planned to develop three more generating units at the Rio Cahabon (total capacity of the power complex was expected to reach 306 MW). The total investment was estimated at US$ 760 million. The Renace Phase II (114 MW) demanded an investment of US$ 270 million, and it was constructed by the Spanish company ACS. The construccion works, which started in January 2012, were in its final stages by February 2015. The Renace Phase III (66 MW) was also set to be built by ACS at a cost of US$ 160 million. The sponsor had also guaranteed PPAs for Phase II and Phase III of the project in 2011.