GTM - The country is attracting top solar developers and manufacturers.
Honduras is emerging as Central America’s solar success story, thanks to an ahead-of-the-curve incentive plan that has brought foreign investment to the sector, anchored by guaranteed 20-year contracts with state utility ENEE.
The country will overtake Mexico as Latin America’s second-largest solar market after Chile in 2015, according to GTM Research’s latest Latin America PV Playbook, as regulator Central America Regional Power Interconnection Commission continues its fast-track project approvals.
Regulatory clarity and incentives for investors have set the country apart from its neighbors El Salvador and Nicaragua, where a lack of clear rules and price stability are hindering solar development.
Solar growth in Honduras has been fast, with the country’s first large-scale PV project -- the 144-megawatt Nacaome park operated by Compañía Hondureña de Energía Solar and Solar Power -- having only initiated operations in May.