The project involves the construction and operation of the Palo Viejo hydroelectric plant in the Department of Quiche. The 84MW plant, which will rely on the natural water flow of the Cotzal river and its three tributaries, will see an investment of EUR185m.
Capable of producing 370 million kWh annually, the plant will help the country avoid atmospheric emission of 280,000 tons of CO2, Enel Green claims.
Massimo D’Aiuto, CEO of Simest, said: “We are completing our participation in the Guatemalan company, which, together with the public venture capital fund, will total 6%, with a financial commitment of EUR10m.”
Francesco Starace, chairman of Enel Green Power, said: “We are pleased to launch this important partnership with Simest, with whom we hope to continue working on future projects like Palo Viejo, which will help spur economic development while protecting the environment.
“The project we are about to implement confirms our capacity for growth in the renewables industry of Latin America, where we already have a strong presence, including other hydroelectric plants. Thanks to this new initiative, we will increase our existing “zero-emission” generation capacity in Guatemala by over 140%.”
