The 105 MW hydroelectric project which the Honduran government promised five years ago has still can not materialized due to lack of funding.
Although in November the government announced that it had signed a $297 million loan with the government of China , the funds have not yet materialized and the estimated project reactivation date is unknown. According announcements made by authorities previously, they are still evaluating the possibility of advancing the project through a public-private partnership.
Despite the announcement made in november of a $297 million loan from China, the resources have not yet been disbursed and the project for the 105 MW plant in Honduras remains paralyzed.
The work has been paralyzed since 2013 due to problems with funding and expropriation of the surrounding land. However, during 2014 a loan was negotiated with the Republic of China which was approved in November but funds have not yet been disbursed and the work remains unfinished.
Work has stopped on the Patuca III hydroelectric project pending funding which is being negotiated with the Chinese government for the continuation of the second stage.
Lack of funding and problems with the expropriation of land surrounding the project are part of the problems that this project has faced since it was first conceptualized in 2010. Now Empresa Nacional de Energía Eléctrica has stopped work while a new construction loan is being negotiated with the Chinese government, which would allow, although the amount has not been mentioned, for the "... continuation of the construction of the curtain wall and installation of generation turbines in the machine room."
Honduras is negotiating with the Industrial Bank of China for financing the first stage of Patuca III hydroelectric dam.
"We are happy because we are moving pretty fast in negotiating the terms of the loan, we are looking for the most favorable conditions for the country, we hope that in 30 days we will have closed deal," said Wilfredo Cerrato, chief of the Ministry of Finance.
The project, which was initially promoted by the Taiwanese State Power Company , was canceled in 2009, and now $300 million is being sought in China for its implementation.
Wilfredo Cerrato, Minister of the Ministry of Surety (SEFIN) and Foreign Minister Arturo Corrales, are touring mainland China in order to complete the process of negotiations for the financial support of about $300 million with which the project Patook III would be carried out.
The funding of $300 million for the construction of the Patuca III hydroelectric project has been approved by the bank Eximbank.
Financial Secretary, William Chong Wong said that negotiations of both the technical and political details with China have reached the final phase, which has led to the approval of funding by the bank.
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AES Panama is the largest electricity generation company in Panama, in terms of installed capacity as well as delivered energy.
AES Panama is a subsidiary of AES Corporation, with headquarters in Arlington, Virgina, United States, and holds the 49% of shares in the operations of this generating company.
Since late 2007, AES Panama owns four hydroelectric plants with an installed capacity of 482 Megawatts: Bayano (260 MW), Estí (120 MW), La Estrella (47.2 MW), and Los Valles (54.8 MW).
Our main clients are the three energy distribution companies in Panama: Elektra Noreste, S.A., Empresa de Distribución Eléctrica Metro-Oeste, S.A., and Empresa de Distribución Eléctrica Chiriquí, S.A., which represent the 95% of the company’s energy sales. The remaining 5% corresponds to energy sales to Great Costumers, which are businesses with monthly energy consumption greater than 100 kilowatts.
Operates in Panama
Phone: (507) 206-2652
In late 2005, AES began developing the Changuinola hydro power project and currently the project is in the phase of building the roadways to access that facility. The formal cornerstone laying ceremony took place on October 25, 2007.
The project's total completion represents an investment of approximately $563 million and the estimated date for the Changuinola hydro power plant to go into commercial operation is the first quarter of 2011. Through this new facility, AES contributes to the country's development and helps face the growing demand of energy in Panama, which requires an additional 50 MW each year.
The construction of the new Changuinola I Hydro Power Plant:
* is an asset to Panama
* will generate clean and 100% Panamanian energy
* will create opportunities for previously excluded populations
* will contribute to solve the country's energy situation
* will help Panama to continue growing
The construction and operation of the hydro power plant will be under the responsibility of AES, a multinational energy corporation with world-class standards and an active presence in Panama.
Operates in Panama
Phone: (507) 206-2600
Astaldi Group is one of the most important construction companies in the world as well as a leader general contracting and project finance initiatives in Italy.
Operates in Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panama
Phone: (503) 2523-9500
"Integral Energy Solutions" for both the domestic and commercial market. Our mission is to design, develop and install modern systems of renewable energy which support the environment.
Operates in Panama, Nicaragua, Honduras, Guatemala, El Salvador and Costa Rica
Phone: (506) 2290 0668 - (506) 2290 2422
XPERTEC is a firm of engineering and consulting dedicated to the development of electric generation and transmission projects. We are headquartered in San Jose, Costa Rica but offer our services throughout Latin America.
We have a multidisciplinary team with vast experience in the design and development local realities and international market trends, applying the latest technology available XPERTEC is well positioned in its market.
Operates in Costa Rica, Honduras and Nicaragua
Phone: (506) 2289 5515 - (506) 8382 6756