Spanish Renewable Company Ecoener Constructs Two Photovoltaic Plants in Guatemala

Ecoener, a Spanish renewable energy firm, is underway with the construction of two photovoltaic plants in Guatemala named Yolanda and El Carrizo, boasting installed powers of 74 MW and 75 MW respectively. Situated in the Escuintla department on the southern coast of the country, these projects signify a significant step towards renewable energy expansion in Guatemala.

Ecoener has secured a green loan totaling $64 million with the BAC Financial Group and the Dutch public development bank FMO. This financing will be dedicated to the Yolanda photovoltaic plant, equipped with a 10-year Power Purchase Agreement (PPA) and an estimated annual production of 165 GWh.

With a current asset portfolio of 740 MW, Ecoener aims to have 1,000 MW in operation and under construction by 2025. The company’s commitment to renewable energy development aligns with its vision of sustainable growth and environmental stewardship.

Additionally, the Spanish Enerland Group has announced its expansion into Guatemala, unveiling plans for its headquarters and the construction of its inaugural photovoltaic park in the country named Magdalena Solar. Scheduled for completion in mid-2025, Magdalena Solar will boast a capacity of 66 MWp, further contributing to Guatemala’s renewable energy capacity.

While Guatemala has seen previous investments in solar energy, including the announcement of a 5 MW project in 2014 and a tender for a 110 MW project in 2019 (which was later canceled), the country’s installed photovoltaic power currently stands at 110 MW, according to recent statistics from the International Renewable Energy Agency (IRENA).

The construction of the Yolanda and El Carrizo photovoltaic plants by Ecoener underscores the growing momentum of renewable energy initiatives in Guatemala. With investments from both domestic and international companies, the country is poised to strengthen its renewable energy infrastructure and contribute to global efforts in combating climate change.