Minerco said that the approval allows Secretaria de Recursos Naturales y Ambiente (SERNA), Honduras’ Natural Resources and Environmental Ministry, to sign and approve the project for submission to the National Congress.
The approval authorizes construction of the hydroelectric project with an initial capacity of 5.2MW with consideration for increased capacity based on final plant design and SERNA approval. Minerco expects to receive increased capacity approval after submission of the final design.
According to the company, the approval recommends and defines a term of 30 years, provides for a ‘First Right of Refusal’ for renewal, and allows for all generation, sales and transmission of energy from the Chiligatoro project.
Scott Vanis, president and CEO of Minerco, said: “The approval by the National Commission of Energy of our Chiligatoro project is a critical milestone in making the company’s new vision to develop clean, renewable energy in Honduras, and the region a reality.
“We have extreme confidence in our operations moving forward and look forward to working closely with the Honduran government in the remainder of the approval process.”
