Solarpack to Build 75 MW Tierra del Sol Solar Park in Guatemala
Established in 2005, Solarpack specializes in utility-scale solar power plants, with expertise covering the development, financing, construction, operation, and management of
Guatemala is the second largest Central American power market, with a goal to increase renewable energy use. Relatively high levels of solar irradiance and large areas of cleared land give the country a strong potential for increased solar energy development.
As of 2020, Guatemala had 4110 MW of installed electrical capacity, based primarily on hydro power (38.38%), fossil fuels (30.36%), and biomass (25.20%). Other renewable sources represented a much smaller percentage of capacity, including wind (2.61%), solar (2.25%) and geothermal energy (1.20%).
As part of its evaluation process, BMR determined that the solar farm offered a strong return that was supported by Guatemala's well-established and stable regulatory system. BMR navigated a complex and cooperative sales process that involved four owners across three legal jurisdictions.
Guatemala's electricity industry is regulated by the General Electricity Act (Ley General de Electricidad) and the CNEE (Comisión Nacional de Energía Eléctrica). The DGH (General Direction of Hydrocarbons) regulates the hydrocarbon sub-sector.
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