Central American Bank for Economic Integration to finance Guatemalan power plant

The Central American Bank for Economic Integration (CABEI) has granted a $670,000 credit to Financiera de Occidente (Fidosa) to partially finance a small hydropower station in Guatemala.

Daily newspaper Prensa Libre said that CABEI has launched the Areca project, aimed at driving small renewable energy projects with a generation capacity of under 10 MW.

The Areca (Accelerating Renewable Energy Investment in Central America and Panama) project's international coordinator Hector Rodriguez claimed such plans will allow for the gradual reduction of the use of fossil fuels and thus of polluting emissions.  

Altogether, CABEI's investments will bring projects expected to produce 2751 MWh per year.  

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