Wind Farm in Cerro de Hula Moves Forward

Globeleq announced the wind power plant in Honduras reached financial agreements and will begin construction.

Monday, November 8, 2010

The majority-owned subsidiary of Globeleq, Mesoamerica SA Renewable Energy (Known as Mesoamerica Energy), leader in development of wind projects in Central America, has been developing the 102 MW wind power project through its own local entity Wind Energy Honduras SA (EEHSA). Once the project is operational, it is expected to generate 6% of the country's energy.

Mikael Karlsson, Globeleq Executive Director, emphasized the importance of having achieved these agreements, "Cerro de Hula is the first wind farm in Honduras and the largest wind farm in the Central American region. Cerro de Hula is a key step in Mesoamerica Globeleq and Power (regional partner) in our strategy to be leaders in developing renewable energy in Central America."

EEHSA is processing paperwork to register the project as a Clean Development Mechanism (CDM) under Kyoto Protocol. Karlsson added: "The project reflects the commitment Globeleq has to sustainable development and to less greenhouse gas emissions, contributing to economic growth, social progress and ensuring that the project's environmental objectives are met in full."

The wind plant will consist of 51 Gamesa G87 wind turbines of 2 MW each and will supply the National Electric Power Company under an agreement to buy 100 MW for 20 years. The plant will be built by Gamesa Wind US LLC e Iberdrola Ingeniería y Construcción México. Commercial operation is anticipated for early 2012. Financing for the project will be provided by the Export-Import Bank of the United States and the Central American Bank for Economic Integration.

Located 17 km south of Tegucigalpa, Honduras, in the municipalities of Santa Ana and San Buenaventura, the project covers approximately 6,500 hectares. Jay Gallegos, Executive Director of Mesoamerica Energy, said: "We are very excited about this project. It marks the culmination of many years of planning and hard work.”

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Honduras: More Investment in Wind Power

December 2012

12 turbines have been added at Cerro de Hula wind farm, with an additional investment of $63 million.

Currently the Cerro de Hula wind farm, owned by Energía Eólica de Honduras, a subsidiary of Globeleq Mesoamerica Energy, has a generating capacity of 102 MW.

The investment of $63 million announced by Deputy Minister of Natural Resources of Honduras, Roberto Cardona, will increase generation by 25 MW, bringing the total generating potential of Cerro Hula to 127 MW.

$ 209 Million for Cerro de Hula Wind Project

November 2010

The BCIE and the EX-IM Bank signed a loan in favor of Energía Eólica de Honduras.

The resources will be invested in the Cerro de Hula Wind Project, which will generate 102 MW and is located in the Department of Francisco Morazan, Honduras.

The project developer will be EEHSA, a subsidiary of Mesoamerica, SA (ERM).

$159 Million for Wind Farm in Honduras

August 2010

The US Ex-Im Bank has approved a $159 million loan to the Honduran wind power company, Energía Eólica de Honduras S.A., to purchase 51 2MW turbines.

The 51 Gamesa G-87 wind energy turbines are for the Cerro de Hula project that seeks to provide 102MW of renewable clean energy.

Honduras: 102MW Wind Farm Contract Awarded

August 2010

A consortium formed by Gamesa and Iberdrola has been awarded the Cerro de Hula wind farm construction project.

Gamesa makes up 76% of the consortium and Iberdrola Engineering and Construction the remaining 24%. The project is for Mesoamérica Energy, a renewable energy company, via its local Honduran subsidiary, Energía Eólica.

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