Roatan Electric Company

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In August 2008, the Honduran regulatory agency ENEE approved the privatization of the eletricity generation and distribution company of the island of Roatan. The Roatan Electric Company (RECO) had a distribution network of 180 km and a diesel-fueled power plant with 4.5 MW in capacity. A 52% stake in the power plant was sold to a small international investor for a undisclosed value. There were other six bidders taking part in the bidding process. Between 2008 and 2014, the sponsor invested US$ 30 million in the electricity network. In late 2014, RECO announced the investment of an additional US$ 45 million in a new LPG thermal power plant (30 MW; US$ 37 million) and a new wind farm (3.9 MW; US$ 8 million). The wind farm, which was named Ocean View, started to be built in December 2013 and demanded an investment of US$ 8 million. By the end of 2015, the construction works were in advanced stage and commercial operations were expected to begin early in 2016. The EPC contract for the wind power plant was granted to Tradewinds Energy S.A. As of December 2015, the construction works on the LPG thermal power plant had not commenced.