Honduras hydro project financing nears close
Local developer Inversiones de Generacion Electricas (Ingelsa), controlled by manufacturing firm Hermacasa, is expected to sign a $20.25 million loan with IDB Invest to finance the development of its 14.8MW Jilamito hydro project in Honduras at the beginning of 2021.
The loan, which has been in the works since 2018 and was approved this week, will fund the Jilamito facility's construction in the municipality of Arizona. The $75.6 million scheme is backed by a PPA with state-owned utility Empresa Nacional de Energia Electrica (ENEE).
The owner of the facility is Honduras’ I), which in turn is controlled by manufacturing firm Hermacasa. It is expected to generate 85.84GWh per year, which will be injected into the grid through a 6.5-mile transmission line.
