Upower Honduras Solar Power Plants

active

Upower Honduras, a partnership of the American companies Upower (80%) and 3G Energy (20%), announced the construction and operation of two power plants located at La Gaceta, Nacaome region (each power plant with 50 MW in capacity). In January 2014, Upower was granted a 20-year power purchase agreement with the state-owned electricity distribution company ENEE. The special purpose companies Produccion de Energia Solar y Demas Renovables, S.A. (PRODERSSA) and Pacific Solar Energy, Inc. (PSE) were established to manage the projects. The investment was estimated at US$ 190 million. In September 2014, Upower signed an EPC contract with the american company WTEC. Information on the precise date the construction works started was not available. Commercial operation commenced in May 2015. In December 2015, BCIE approved a US$ 40 million loan to Pacific Solar.