As part of the agreements signed between the two governments the elimination of double taxation has been established.
From a statement issued by the Government of Guatemala:
Within the framework of an official visit by President Otto Perez Molina which will took place on Friday, the Governments of Guatemala and Mexico signed the following bilateral agreements:
The government has announced that it will revise all contracts awarded and projects that are not being run will be reassigned.
State institutions responsible for granting operating licenses to mining, forestry, clean energy generation and hydrocarbon projects, have a deadline of two weeks to complete the collection of all permits, licenses and concessions granted in the past two governments and present a report to President Juan Orlando Hernandez, who will decide whether or not to revoke the licenses that have not been executed in order to reallocate the revoked contracts to new investors.
The Government has managed to get Elcosa to sign a contract under the same terms agreed with Lufussa, the other main thermal generator.
The agreement with Executives from Electricidad de Cortés, S.A. (Elcosa) means that this company will continue to provide a total of 80 megawatts at a lower price than originally required by the thermal generator.
An agreement has been made with one of the companies supplying 33 MW at a cost of $0.25 per KW, which signifies savings of $41 million over four years.
The Government has agreed to renew a contract for two years with the company Luz y Fuerza de San Lorenzo SA (Lufussa). An agreement was made to purchase 33 MW of power at a cost of 25.46 cents per kilowatt, which saves about $41 million over a period of 4 years.
The Honduran Congress has approved a $34 million loan from Finland to electrify 700 villages, to be directed according to criteria of the President of the Congress.
Laprensa.hn reports that "For various political sectors, this is nothing more than a form of political proselytizing by Juan Orlando Hernandez with borrowed funds payable by the Honduran people.