Honduras is currently dependent on diesel power as a source of energy generation, but the country aims to generate 60% of demand from renewables by 2022. Scatec Solar entered the market in Honduras in 2014 and built the 60 MW Agua Fria solar power plant. In 2018 the 35 MW Los Prados plant was grid connected.
Situated in the municipality of Nacaome in the Valle Department of Honduras, the Agua Fria plant is located in a very favourable region with high sun exposure. Agua Fria is the first solar power plant constructed by Scatec Solar in Latin America. The construction of Agua Fria started in 2015. The project holds a 20-year PPA with Empresa Nacional de Energia Electricia (ENEE). Equity partners are Norfund, PEMSA, and lenders are Eksportkreditt (guaranteed by GIEK), CIFI and Lafise.
Los Prados is located in the southern Choluteca region close to the Pacific coast. Scatec Solar and Norfund acquired the 53 MW Los Prados solar project in Honduras in 2015. The 35 MW Phase I reached commercial operation in September 2018, and the 18 MW Phase II will be realised after required grid upgrades have been completed by ENEE. The project holds a 20-year PPA with Empresa Nacional de Energia Electricia (ENEE). Equity partner for the solar plant is Norfund.