The President of Guatemala, Alvaro Colom, along with cabinet ministers and representatives from AEI and the private sector, led a groundbreaking ceremony today to inaugurate the construction of Jaguar Energy Guatemala LLC's new 300 MW solid fuel fired power generation facility. The ceremony was held this morning at the power plant's site near Puerto Quetzal, Guatemala. The project's total investment is expected to be above US $700 million with commercial operations of the power plant scheduled for 2013.

"One of our Government's priorities has been to implement and execute a plan to diversify the country's energy matrix, promoting installation of more efficient power plants, according to the energy needs of the country," said Mr. Colom, the President of Guatemala. "Jaguar Energy is the result of a joint effort with the private sector to improve the availability and reliability of electricity service in Guatemala, creating the conditions to obtain energy at better prices."

"AEI believes that this day is an important step for our company, for Guatemala and for the entire Central American region. This project will significantly increase the supply of reliable, thermal base load energy in Guatemala. Importantly, this energy will be priced against global solid fuel market prices resulting in competitively priced energy that diversifies Guatemala's energy matrix and reduces the exposure to global oil prices," added Jim Hughes, CEO of AEI. "We would not have been successful in the absence of a demonstrated history in Guatemala of stable legal and regulatory frameworks and a fair and equitable investment environment with clearly defined energy policies, with which the project is entirely consistent."

The Jaguar Energy power plant will be a solid fuel-fired power generation facility with an installed capacity of 300 MW that will be built by China Machine New Energy Corporation.It is the result of an international public bidding process for a new project and long-term Power Purchase Agreements held by the local distribution companies DEORSA and DEOCSA under the supervision of the Minister of Energy and Mines and the National Electricity Commission.


Jaguar Energy recently closed long-term financing that includes a $350 million construction and term loan to be provided by a syndicate of regional and international banks lead by Banca de Inversión Bancolombia Corporación Financiera S.A. (BIBancolombia) and the Central American Bank for Economic Integration (CABEI).The remaining funds for the project will come from AEI equity and from vendor financing provided by the EPC contractor.

Source: Ashmore Energy International

More on this topic

Guatemalan Power Plant Assures Financing

March 2010

AEI announced today that it closed long-term financing for the construction of a new 300 MW solid fuel-fired power plant located near Puerto Quetzal, Guatemala.

AEI announced today that its wholly-owned subsidiary, Jaguar Energy Guatemala LLC (Jaguar Energy), closed long-term financing for the construction of a new 300 MW solid fuel-fired power plant located near Puerto Quetzal, Guatemala.

Guatemala Begins Construction of Electric Power Plant

February 2010

The Energy Minister informed that the construction of Jaguar Energy power plant will begin in the next months.

It will take 40 months and $700 million to build, and will generate 300 MW when ready. It will be developed by AEI, an international corporation focused on energy projects.

$720 million for coal plant in Guatemala

October 2008

Ashmore Energy International (AEI) will invest $750 million to construct a coal energy plant in Guatemala.

With this investment the company hopes to produce 300 megawatts which will be in addition to the 234 megawatts being produced, making the total produced by the company 534 megawatts.

Fenosa awards $600 million contract for Guatemala power plant construction

May 2008

Spain's Unión Fenosa has awarded a $600 million contract for the construction of a 200-megawatt coal-fired power plant in Guatemala to Jaguar Energy, a local unit of Ashdown Energy International.

Fenosa said in a statement that the new plant would enable its distributors in Guatemala to ensure power supplies in the long term.