Guatemalan Multi Inversiones (GMI) and ACS of Spain have confirmed they will continue to jointly develop hydropower project in Guatemala and in the longer term in other Central American countries.

The announcement, according to Deutsche Presse-Agentur, was made at a recent press conference on the $270m, 114 MW Renace II hydroelectric power plant, which is due to become operational by the end of this month.

Juan Carlos MĂ©ndez, president of the Energy Division of GMI, also confirmed a new project called Renace III, which will have a capacity of 66 MW, is already underway and is expected to enter commercial operation in March 2016.

The project, which will require an investment of $160m, is located within the same area Renace II, approximately 200 km north of Guatemala City.

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