UPI secures PPA deal for 100 MW in Honduras

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U.S. group Upower, Inc. (UPI) is expanding operations in Central America after two subsidiaries secured power purchase agreements in Honduras for PV installations with a total capacity of 100 MW.

Produccion de Energia Solar y Demas Renovables, S.A., (PRODERSSA) and Pacific Solar Energy, Inc. (PSE), both divisions of the Florida-based UPI, have each signed 20-year power purchase agreements with Empresa Nacional de Energia Electrica (ENEE), the national energy company of Honduras, to build and operate two PV projects totaling 100 MW.

UPI President Enrico Marotta said the "two 50 megawatt PPAs, which are the first to be completed by UPI, serve as a tremendous start for us and serve to further our mission statement: To generate electricity by building or acquiring power plants globally, striving to maximize performance and returns for our shareholders, while remaining environmentally conscious. We look forward to working with WTEC and the Honduran government to make these projects a reality."

Enrique Pallares, UPI’s chief of business development, described the combined installations as "one of the largest solar powered power plant facilities in Latin America," adding that the project would contribute "to Honduras’ employment and continued economic growth through the use of clean energy."

Wind Turbine and Energy Cables Corp. (WTEC) is set to build the two projects, each with a capacity of 50 MW on a 420-acre (170-hectare) parcel that UPI has leased on a long-term basis in Nacaome, Honduras. WTEC’s subsidiaries include the engineering division Renewable Energy Resources Corp. and construction arm Alternative Energy Development Corp.

WTEC’s renewable energy portfolio includes more than 12 GW of wind and 3 GW of solar power worldwide.