Minerco to acquire 30% interest in Honduran hydropower plant

Minerco Resources has signed a binding letter of intent to acquire a 30% interest in a 1.2MW hydroelectric project in Honduras from Sesecapa Energy.

Located in the Municipality of Santa Fe in the Department of Ocotepeque, the Caserio Rio Frio power project has its congressional approval, power purchase agreement (PPA), water contract, operations contract, and approval for final design.

Construction of the project is in progress and the facility is expected to start operation in the first quarter of 2012.

The agreement also provides for the company to obtain a minimum 30% interest and a maximum 80% interest in the remaining two phases of the project known as El Chaguiton and El Palmar.

Minerco Resources is a developer, producer and provider of renewable energy solutions in Latin America.