The IFC, a member of the World Bank and Oesterreichische Entwicklungsbank AG (OeEB) will provide $98 million to fund the largest hydropower project in Honduras, to be built by Compañía Hondureña de Energía Renovable S.A. (COHERSA).
The project will generate 181 gigawatt hours of electricity per year, and will be financed with a principal loan granted by the IFC, and another syndicated one to be provided by the Development Bank of Austria (OeBD).
The Vegona is the first renewable energy project in Honduras to be developed by the IFC. It is expected to start operations in 2013 and will cater to hundreds of homes around the country.
Additionally, the Vegona will help improve the competitiveness and sustainability of Honduran exports, by providing access to clean energy at lower costs.
An article in Ifc.org adds that "the project is expected to generate about 500 jobs in the construction phase alone."
Source: Hondurasweekly.com
More on this topic
November 2010
The Honduran Renewable Energy Company (Cohersa) submitted a funding request to the IFC for the project, called "La Vegona."
The Hydroelectric Project La Vegona, capable of 38.5 MW, is a project which will use the Comayagua Humuya river for renewable energy production, providing electricity equivalent to more than 46,000 households in Honduras.
August 2011
The Secretary of State will receive expressions of interest for the Feasibility Study for the Mixcure River hydroelectric development project.
Services required include the development of consultancy project entitled "Feasibility Study of Hydropower Development at Mixcure River, Environmental Assessment and Elaboration of Implementation Strategy for Hydroelectric Development at Mixcure River," the objective of the consultancy is to provide ENEE and higher authorities with a feasibility study on Hydroelectric Development at Mixcure River and an implementation strategy that will allow the Government of Honduras to execute the renewable energy project according to the law.
September 2011
The Inter-American Investment Corporation has approved a loan for the Panamanian hydroelectric project ‘San Lorenzo’, a plant that will generate 40 GWh per year.
The IIC loan to San Lorenzo Hydro, S.A. in Panama will help to promote renewable power generation.
Washington, D.C.
January 2011
The government granted licenses to two companies for operation and maintenance of two hydroelectric power plants.
The permits were granted to Hidroeléctrica Piedra Puntuda S.A. and to Energía Tropical Sostenible Cerro Frío S.A.
"The first permit is for project Piedra Puntuda, which will build a hydropower plant with an installed capacity of 15 megawatts at Mico River, in the municipality of Muelle de los Bueyes, in the Southern Caribbean ... The second permit is for Las Cañas Hydroelectric Plant, in the northern province of Matagalpa and includes the construction of a hydroelectric plant of 1.47 MW of installed capacity, which will use the Yasica river, affluent of the Tuma River ... " states the article in EFE.
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