24 MW solar project under construction in Honduras

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Yingli Green Energy has announced that it will supply 24 MW of its YGE 72 cell PV modules to the Pavana Solar Park, which is under construction in Honduras. Yingli will deliver the large-format modules to the project site in the city of Choluteca during October and November.

At the time of writing it was unclear when U.S.-based engineering, procurement and construction (EPC) contractor Sybac Solar broke ground on the project, which it is building for Honduras’ Energía Basica SA. The company expects to commission the project in the first quarter of 2015.

The Pavana project and another 50 MW of utility-scale PV projects under construction put Honduras’ solar market in a leading position among Central American nations.

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“Honduras is exciting,” notes GTM Research Solar Analyst Adam James. “But the problem there is on the one hand there is country risk in Central America, and because the utilities are so intertwined with the governments, there is some counterparty risk.”

James notes that auctions for solar projects have already been held in Guatemala and El Salvador, and that Panama is preparing an auction for 60 MW. Overall, GTM expects Central America’s solar markets to grow rapidly from just over 100 MW forecast for 2014 to 400-650 MW annually 2015 through 2018.

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