This enhanced project webpage seeks to increase IDB Invest's sharing of information on the PH Jilamito and updated efforts related to the project.
The PH Jilamito Project consists of the development, construction, commissioning and operation of run-of-the-river hydroelectric plant with an installed capacity of 14.8MW that will connect to the national grid via a 10.5 km / 34.5kV transmission line from the powerhouse substation to a switching substation to be built, owned and operated by Ingelsa (the “Project”). The Project will sell energy under a power purchase agreement (“PPA”) with Empresa Nacional de Energía Eléctrica (“ENEE”), Honduras state-owned electricity utility.
The Borrower is Inversiones de Generación Eléctricas, S.A., a special purpose vehicle established under Honduran law as a sociedad anónima to carry out the Project. The Borrower’s share capital is owned by Hermacasa, S.A, a company ultimately controlled by Emin J. Abufele and Simonds International Corporation.
The total cost of the Project is approximately US$74.8 million, including reserve accounts, financing costs and interest during construction. IDB Invest will participate in the financing by providing senior and subordinated loans of up to US$21.5 million. IDB Invest loans will be complemented by senior and subordinated loans from the Canadian Climate Fund for the Private Sector in the Americas (C2F) for up to US$12.5 million and senior loans from other developmental institutions.