The Spanish electricity group Unión Fenosa will invest $100 million in rural electrification in Guatemala.
The company acquired an 80 per cent interest in the country’s inland distribution company which serves the whole country except the capital. As a resuilt it will also be responsible for administering a $350 million fund for investment in rural electricifition. On current projections, 40 per cent of the fund will be employed to improve the transmission system and 60 per cent on distribution.
The Spanish company is also to provide experts to assist with repair work following the damage caused by Hurricane Mitch at the end of last year.