In September 2011, OeEB and IFC, a member of the World Bank Group, provided US-Dollar 98 million in financing for Compañía Hondureña de Energía Renovable S.A. (COHERSA), to construct a private hydropower project in Honduras, which will promote clean energy and help the country meet its growing power needs.
|Project name||Hydropower plant La Vegona|
|Region||Central America and the Caribbean|
|Sector||Energy / Resource efficiency / Infrastructure|
|OeEB project volume||USD 23 million|
|Projekt partner(s)||IFC, COHERSA|
|Project Story||Honduras: A power line to the future|
OeEB is supporting the construction of the 38.5-megawatt project with a US-Dollar 23 million parallel loan. IFC is providing senior and subordinated debt totaling US-Dollar 30 million and has mobilised additional US-Dollar 45 million senior debt.
In mid-2013, the hydropower plant is expected to produce about 181 gigawatt hours of electricity a year, and will power thousands of households in the country. La Vegona will also help to improve the competitiveness and sustainability of Honduran exporters by supplying lower-cost energy from a clean source. During the construction phase, the project is expected to employ about 500 local workers.