CABEI signs agreement to generate hydropower in Guatemala
The construction of this hydroelectric plant will generate an estimated 2751.30 megawatt hours (MWH) of clean energy and reduce carbon dioxide (CO2.) gasses in the atmosphere by 1664 tons.
Ciudad Guatemala, May 22, 2015. - The Central American Bank for Economic Integration (CABEI), through its Project ARECA, signed a Non-reimbursable Technical Assistance Agreement amounting to US$66,293.00, to strengthen the Preinvestment stage of the "Peña Flor" Hydroelectric Project located on the south coast of Guatemala.
The project involves the construction of a mini hydroelectric plant, which will directly benefit 67 people and indirectly benefit 284. In addition, it will help small entrepreneurs to participate in power generation projects from renewable resources, thereby contributing to the energy matrix.
The mini hydropower plant will generate an estimated 2751.30 MWh (megawatt hours) per year, eliminating 1664 tons of carbon dioxide (CO2) from the environment.
Through the use of this non-reimbursable technical assistance, promoted by the Project “Accelerating Renewable Energy Investment in Central America and Panama (ARECA),” a tripartite initiative of the Global Environment Facility (GEF), the United Nations Development Program (UNDP) and CABEI with contributions from the Finish Ministry of Foreign Affairs, ARECA promotes the Millennium Development Goals (MDGs) and supports entrepreneurship in the region, fostering economic integration and balanced economic and social development.
CABEI is the main source of financing for the region’s development and as part of its 2015-2019 Institutional Strategy "Integrating Sustainable Development and Competitiveness," the Bank promotes initiatives that generate energy from water, wind, biomass, geothermal and solar sources, which contribute to reducing emissions of greenhouse gases that cause climate change.
