US-based company Upower Incorporated, an independent power producer (IPP), has signed a power purchase agreement (PPA) for 100 MW of solar power projects in Honduras.
The deal was struck with Empresa Nacional de Energia Electrica (ENEE), the country’s state-owned power company through Upower two units.
The 20-year agreement and see Upower build two photovoltaic plants, each with a capacity of 50 MW, Seenews reports.
Once operational, the solar plants’ electricity will be sold to ENEE, but the purchase price was not disclosed.
However, last October, the IPP said it expected to get a base price of between $0.18 and $0.19/kWh, with planned annual increases.
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