The plant launched by Ingenio Magdalena in Retalhuleu has the capacity to generate up to 62 MW of energy from biomass and coal.
The plant called San Isidro will have the capacity to "... produce 220 tons of steam per hour, operating at 109 kg / cm2 and 540 degrees Celsius and 88.5% efficiency designed so that gases from the combustion process comply with environmental standards of the world bank. "
CABEI has provided a partial credit guarantee of $669,000 to Financiera de Occidente to hedge financing of the mini hydropower project being developed by Ingenio Magdalena in Guatemala.
The Central American Bank for Economic Integration (BCIE) through the project "Accelerating Investments in Renewable Energy in Central America and Panama (ARECA)", has provided a partial credit guarantee to Financiera de Occidente SA (Fidosa), for an amount of U.S.
An announcement has been made of the successful structuring of a syndicated credit transaction for $125 million to Ingenio Magdalena, one of the largest producers and exporters of sugar from Guatemala.
A statement from Banco Latinoamericano de Comercio Exterior, SA (Bladex) reads:
Banco Latinoamericano de Comercio Exterior , SA ("Bladex" or "the Bank" , NYSE : BLX ) today announced the successful structuring operation of a syndicated credit facility for $125 million for Ingenio Magdalena SA , one of the largest producers and exporters of sugar from Guatemala, and one of the largest exporters of refined sugar in Latin America, using a business model that includes diversified and integrated power generation and the production of alcohol.
After an investment of $80 million the Magdalena mill has opened its new plant which gives it a further 56MW of generation.
With this expansion the mill now provides up to 125 megawatts (MW) to the national system and covers its own consumption needs for industrial production.
The plant expansion consists of a new boiler containing 220 metric tons of steam and a turbine of 62MW, said Pedro Pablo Luna, the mill’s project manager.
The Guatemalan judiciary has granted temporary protection to Ingenio Magdalena, who appealed against the rejection of its 110 MW bid.
The Tender Board had awarded 210 MW to 16 hydroelectric plants, disregarding the supply of 110 MW by Ingenio Magdalena, even though it was below the reference price, and postponing the award of 590 MW for a new bidding process.
The Magdalena Sugar Mill will invest the money in its power plant in order to replace the current consumption of bunker fuel for coal.
The new plant will increase generation capacity to 120 megawatts. Located in La Democracia, Escuintla, it is expected to begin operations in January 2013.
"According to the project two turbo generators will be installed, each one " ...
At least 10 companies have already acquired the bidding rules ready to present bids on 28 October.
Among the companies interested in bidding is Centrans Energy which operates a wind farm in the Pacaya volcano area, which generates 50 MW and represents an investment of $125 million.
An article in Elperiodico.comgt states "The bidding rules require that at least 60 percent of the 800 MW must be generated by renewable power plants (hydroelectric, wind, solar, etc.) and a maximum of 40 percent for existing plants (bunker, diesel and coal) The traditional power plants can bid for contracts of up to 5 years, compared to the renewables whose contracts can be up to 15 years long."