Spanish renewables developer Ecoener has secured US$64 million in green bond financing for a 74MW solar PV plant in Guatemala.
Currently under construction, the Yolanda project is located in the southern department of Escuintla with a second solar PV plant under construction – dubbed El Carrizo – too with a capacity of 75MW.
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The Yolanda PV plant has secured a 10-year power purchase agreement with an undisclosed company, while the green bond financing was secured with financial group BAC and Dutch development bank FMO.
Mainly driven by the private sector, Guatemala has made promising movements to support solar’s growth in the country with the government announcing a series of tenders to be held in 2024 and 2025.
The Spanish developer Ecoener currently owns and operates 341MW of renewables capacity, of which 182MW is from solar PV, and has 396MW of solar PV under construction and a further 864MW in development. The company has operational solar assets in the Dominican Republic, Honduras, Colombia and Spain.
In Europe, Ecoener announced in January 2024 that it planned to build a 350MW renewables portfolio in Greece, with a 50MW solar PV plant expected to reach ready-to-build status by the end of 2025.