In Costa Rica a 650 MW hydropower project in which $129 million has already been invested, has made no progress in 20 years, pending an "intercultural dialogue" which has not even begun.
EDITORIAL
The problem is not that infrastructure is to be built in indigenous territories without dialogue . Nor it is that the dialogue is fruitless. A conflict has not even arisen.
With a line of credit granted by the Latin American Bank for Foreign Trade and the Dutch Development Bank, Banco Ficohsa will finance renewable energy projects.
From a statement issued by Banco Ficohsa:
Tegucigalpa August 27, 2015, Banco Ficohsa has been provided a credit line by the FMO and Banco Latinoamericano de Comercio Exterior (Bladex), SA in the amount of US $60,000,000.00 (sixty million US dollars).
On October 20th and 21st entrepreneurs from the region will gather together in Panama City to discuss issues such as the electricity market rules, new and renewable energy projects.
From a statement issued by the International Symposium on Energy:
This year the 8th. International Symposium on Energy seeks to promote spaces for reflection on energy issues, to help analyze the performance and limitations of developing new projects, build consensus, define the options for the energy market and, finally, develop a social impact using the media.
Companies in the sector will discuss the state of the regional electricity market, and power and energy management, from August 19 to 21 in San Salvador.
From a statement issued by the Salvadoran Association of Industrialists (ASI):
ASI to hold second regional congress on energy
Under the theme: "Energy: Essential for Sustainable Development and Regional Competition", the Salvadoran Association of Industrialists, ASI, is preparing the second Regional Congress on Energy, on 19, 20 and August 21 to be held in the Sheraton Hotel in San Salvador.
Actis and Mesoamerica have agreed to sell SunEdison 100% of its interest in Globeleq Mesoamerica Energy, which operates in the area of renewable energy plants.
From a statement issued by Globeleq Mesoamerica Energy:
Actis and Mesoamerica, investment and consultancy firms based in Costa Rica and Colombia have agreed to sell 100% of their combined interest in Globeleq Mesoamerica Energy (GME), a leader in the business of wind energy and solar energy in Central America, to SundEdison. SunEdison is the largest developer of renewable energy in the world.
An announcement has been made that the German government will have a credit line of $113 million available to fund geothermal projects in Central America.
The announcement was made by the German ambassador to Nicaragua, Karl-Otto König, who said in an article on Elnuevodiario.com.ni that "...Central America is a region with 'considerable potential' for generating thermal energy which comes from the ground or from volcanoes. "
An announcement has been made that solar energy projects that negotiated contracts with the state run power company and begin operating before July 31 will receive an incentive of $0.03 per KW / h.
For renewable energy the price is, according to the National Energy Company (ENEE) is $11.4 KW / h, marginal cost, added to which is the 10% incentive and now on top of this would be added the additional $0.03 for generators operating during the next three months. In total for these companies the price KW / h would be at $15.54.
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.
Small investors have bought $15 million in shares ranging from $1,000 to $20,000, from a trust that will finance a wind project in Uruguay. Another $62 million will be offered to institutional investors.
EDITORIAL
The offer received in the Uruguayan Securities Exchange from small investors reached $100 million, a clear sign of the high interest in the prospective investment which has a mitigated risk as it is a project by a strong state run enterprise, with a return almost assured, estimated at about 11.5% a year, in the 20 years which is the term of the share certificate.
The Inter-American Development Bank has approved a $23 million loan to renovate the Canaveral - Rio Lindo hydro station and its connection to the national grid.
From a statement issued by the Inter-American Development Bank (IDB):
The Inter-American Development Bank (IDB) has approved a loan to Honduras for $23 million for the renovation of infrastructure for generation at the Canaveral - Rio Lindo hydro station; renovation of transmission assets that connect the station to the national grid; and improving operational and commercial efficiency of generation management of the National Electricity Company (ENEE).
The South Korean company says it will be investing $300 million in public infrastructure, including works on electrification, renewable energy projects and hospital infrastructure.
For the construction of a hospital in Choluteca the multinational Samsung plans to invest $35 million, while for the electrification in rural areas and renewable energy projects it has estimated it will spend $40 million and $45 million respectively.
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.
An announcement has been made of the launch of a wind power generation plant built and operated by the company Terra Energy in San Marcos de Colón, in the department of Choluteca.
The plant has the capacity to generate 50 MW, with 25 wind turbines and is located south of the capital. The project required an investment of $100 million and was completed before the agreed time, three years.
Two social welfare institutions are considering whether to invest $90 million in gas generation plants to sell electricity to the National Electric Power Company.
In order to cover the increased demand which arises in seasons of highest energy consumption, the National Institute of Retirement and Pensions for Employees and Officials of the Executive Branch (INJUPEMP) and the Honduran Social Security Institute are considering investing in power generation based on gas. The investment would mean allocating about $90 million to the purchase of mobile plants to sell supplies to the National Electric Power Company.
The fall in oil prices has reversed the cost equation which previously favored investment in renewable energy.
EDITORIAL
The effect of the price of a barrel of oil falling below $50 is now being felt in the decisions which must be taken by energy buyers and regulatory officials in the electricity markets. The thing is that -suddenly - electricity produced using hydrocarbons may cost less than energy from solar power, and even hydroelectricity.