Module manufacturer, Yingli Solar is to supply modules to a 24MW solar power project in Honduras.
Yingli will supply 80,000 of its YGE 72 Cell Series modules, which will be delivered throughout October and November this year to the ‘Pavana Solar Park’.
Pavana Solar Park is owned by Energia Basica, a Honduran energy company, with US-based Sybac Solar to provide engineering, procurement and construction (EPC) services.
The project is scheduled to come online in early 2015, with an expected annual generation of 40GWh a year.
The park is said to be the largest solar power plant to begin construction in Honduras, and will be located in the southern city of Choluteca.
Armando Ayes, Energia Basica´s general manager said the Pavana Solar Park “demonstrates how our fast-track development model is ideally suited to the Honduran government's strategic renewable energy initiatives”.
Ayes also said Energia Basica expects to be implementing a similar renewables development model across Latin America in the near future.
Robert Petrina, managing director of Yingli Green Energy Americas said Yingli's strategy in Latin America is “to invest in sophisticated local operations and forge deep partnerships” as “the pace of solar PV project development and construction accelerates in Latin America”.
Yingli’s vice president of international sales, Jeffrey Barnett said the project would help Honduras reach its national goal of 60% of domestic energy demand to be met by renewables for 2020. “Thanks to a robust regulatory framework for renewable energy that includes net energy metering, a feed-in tariff, and tax incentives, Honduras is one of highest potential solar PV markets in Central America,” Barnett said.
Liansheng Miao, chairman and CEO of Yingli Green said: “By utilising the region's vast solar potential, projects like the Pavana Solar Park are helping the nation create local jobs, reduce dependence on fossil fuels, and serve as a model for other Central American countries seeking to expand renewable energy generation.”
A recent Bloomberg New Energy Finance report predicted that between 2014 and 2016 up to 477MW of new solar capacity installed across Central America, singling out Guatelama, Honduras, El Salvador and Panama as potentially promising markets.
According to new analysis by IHS, Honduras is set to lead Central American solar with a 1.5GW surge in the region’s PV installations up to 2018.