Norwegian power producer Scatec Solar ASA said yesterday it has agreed some USD 90 million (EUR 74m) in financing for the construction of the 60-MW Agua Fria solar farm in Honduras.

The Oslo-based company will build and operate the USD-125-million plant, which will be its first in Latin America. Scatec’s stake in it will be 40%, while local developer PEMSA and a partnership between the Norwegian Investment Fund for Developing Countries, also known as Norfund, and life insurer KLP will each hold 30%.

The debt funding for the project will be provided by Export Credit Norway, The Norwegian Export Credit Guarantee Agency (GIEK) and Corporacion Interamericana para el Financiamiento de Infraestructura SA (CIFI).

The ground-mounted photovoltaic (PV) park will use around 200,000 solar panels, installed on a fixed tilt system and interconnected to an existing transmission line. The plant will be able to generate about 100,000 MWh a year and will be selling the produced electricity to Empresa Nacional de Energia Electricia (ENEE) under a 20-year contract.

Building works will begin right away and the solar farm’s completion is scheduled for the second half of next year.

Scatec obtains funds for 60-MW solar project in Honduras; by Ivan Shumkov of SeeNews Renewables – December 30th, 2014

Derick Lila
Derick is a Clark University graduate—and Fulbright alumni with a Master's Degree in Environmental Science, and Policy. He has over a decade of solar industry research, marketing, and content strategy experience.

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