Honduras’ national utility ENEE has reported that eight large solar PV projects totaling 232 MW will qualify for an additional $0.03/kWh bonus as they have reached completion before August 1, 2015. It is not clear if the 232 MW figure is in DC or AC.
With this bonus, the projects will receive $0.18/kWh under the nation’s feed-in tariff, which offers 15-year contracts. The feed-in tariff is limited for the first 300 MW of projects and the remaining 67 MW will receive $0.15/kWh.
Among the eight plants completed under the $0.18/kWh rate is a 100 MW project in the nation’s Valle Department which was commissioned in May. The project consists of two 50 MW plants.
Among nations in Central America, Honduras was the most dependent upon fossil fuels in 2014, with oil, gas and bunker fuel plants comprising 59% of the nation’s generation throughout the year. Due to high and fluctuating prices, reducing fossil fuel use has been a high priority for the nation, and in 2013 it implemented its feed-in tariff.
According to GTM Research, Honduras installed 307 MW-DC of solar PV in the second quarter of 2015. This made it by far the largest solar market in Latin America during the quarter. GTM Research expects Honduras to install 528 MW-DC over the full year 2015, but for the market to fall again in 2016.