Diconelec, an experienced electric power and telecommunications engineering company, has launched five solar energy and battery projects in Honduras with a total capacity of 120 MWn and 169.53 MWp.
Five Solar Power Plants Boost Energy Capacity
The solar portfolio includes the Lindo Caracol Solar Plant with a capacity of 20.52 MWp, the NACO I Solar Plant at 41.73 MWp, the NACO II Solar Plant at 38.95 MWp, Villanueva I at 41.73 MWp, and Villanueva II at 26.60 MWp. Each plant is also equipped with a battery storage system.
“We hope to add allies that will make the projects more competitive in the financial and technical aspects so that we can choose to participate in the spot market, agree on a private PPA or submit offers in a State tender,” said Samuel Rodríguez, technical and commercial director of projects at Diconelec.
Exploring Investment and Partnership Opportunities
Diconelec is actively seeking partnerships and investments for these solar projects from investment funds, private investors, financial institutions, and banks for initial capital. The company is also open to selling the projects in their early stages or as completed turnkey assets and is exploring opportunities for supply contracts between private entities.
“Our horizon as developers and planners is to seek efficiency and ensure competitive prices in the long term based on a scheme where initially the owners of the projects are almost always the banks, but we need the support of both industrialists, the government and the generators because we seek to be a comprehensive solution to all the needs of the electricity market,” added Rodríguez.
SPVs Established for Solar Projects
To facilitate these developments, two special purpose vehicles (SPVs)—LINDO CARACOL SA and OCAN ENERGY SA de CV—were established under Honduran law. Both entities have obtained electricity sector registration from the Electric Energy Regulatory Commission (CREE), allowing them to enter into power purchase agreements with the national electric company, ENEE.
This authorization stems from Articles 17 and 55 of the General Law of the Electricity Industry and its regulations, which allow the companies to supply energy for their projects through the Spot Electricity Market.
Industry Veteran to Spearhead 120 MW Solar Portfolio
Samuel Rodríguez, a seasoned energy expert with over two decades of experience and a track record of developing 364 MW of projects in Honduras, will lead the construction of the 120 MW solar portfolio with storage. As a first step, he will focus on the 20.52 MW Lindo Caracol Solar Plant while securing financing for the remaining phases.
“We are going to start with the Lindo Caracol Solar Plant of 20.52 MWp, one of the projects of LINDO CARACOL SA. We already have the financial closure and we will soon begin construction,” Rodríguez stated.
Rodríguez noted that this first project, situated in the Municipality of San Antonio de Cortés, will be fully integrated into the opportunity market. As for the other projects, the company is still considering whether to participate in a potential public-sector renewable energy tender or enter the private contract market with qualified consumers.
