Archila revealed that the project was already awarded to Spains Grupo Ortiz by the National Electrical Energy Commission (CNEE) in 2012. Overall, the Madrid-based construction and energy firm is expected to invest an initial US$140 million in the project, according to a government press release.
Although it is still in the preparation stage, and the exact location has not been announced, the plant is likely to be built in Guatemalas eastern Zacapa region. Meanwhile, construction is expected to start within two months, with completion envisioned for August 2014.
Last year, CNEE awarded 421 MW worth of PPAs under the PEG 2-2012 auction, including 50 MW of photovoltaic capacity to Spains Rainbow Energy Corp., which belongs to Grupo Ortiz, and 5 MW to Sibo Solar, also based in Spain.
Sales of electricity generated from the new power plants to the national grid are due to start on May 1, 2015, and will last for 15 years.
Edited by Becky Beetz.