Solar Energy Project Canceled in Roatan

Citing as the reasons factors related to the regulatory, financial and political conditions, the firm Onyx has shut down its solar energy project in Honduras.

Monday, March 19, 2012

The company Onyx Service & Solutions, Inc. announced to its local partners and the Honduran authorities on Monday its decision to terminate its development of the 22 MW of solar power project on the island of Roatan.

"Although the project had significant support from local government and potential end users, Onyx has determined that the regulatory, political and financial situation in Honduras offers an environment that is, at best, unfriendly to an alternative energy project such as the one being developed by Onyx," said a company statement distributed by Market Wire and reproduced by finance.yahoo.com.

Malcolm G. Burleson, president and CEO of Onyx, lamented the departure of the project as "a painful decision," but expressed hope that other smaller projects based on the use of diesel that the company is encouraging in Roatan, will bring benefits to local citizens.

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