Minerco Resources has signed an agreement with Energia Renovable Hondurenas (ERHSA) to acquire a 100MW wind power project in Honduras, Central America.
As per the agreement, Minerco will acquire 100% of the Sayab wind farm, located in the Municipality of San Marcos de Colon, in the Department of Choluteca in Honduras.
The wind power project is currently in the early feasibility stage of development, allowing Minerco to control in the feasibility, development, design and construction phases of the project.
The project, that has secured the necessary land, is expected to begin construction in 2013.
Once fully operational, the project is estimated to have the potential capacity to gross $48m per year.
ERHSA will receive one million restricted shares of Minerco in two installments, while the company is responsible for ongoing expenses through final design and continued operations of the project.
Minerco is a progressive developer, producer and provider of clean, renewable energy solutions in Latin America.