Funding From IIC Will Support Guatemala'S Energy System
12/15/1999An IIC loan will broaden Guatemala's power generation options WASHINGTON, D.C. — On November 29, 1999, the Board of Directors of the Inter-American Investment Corporation (IIC) approved an A loan of up to $10 million loan and an $11 million B loan to be funded by other financial institutions under the IIC's cofinacing program to Hidroeléctrica Río Las Vacas, S.A. in Guatemala. The project consists of the development, implementation and operation of a 20 MW hydroelectric plant located approximately twelve miles from Guatemala's capital, which is the country's most significant energy consumption center.
The IIC's participation in this project will support the expansion of power generation capacity in Guatemala, helping to reduce its energy shortfall that is particularly noticeable during peak hours. The project will operate using renewable resources: catchment from the Las Vacas river basin system and 60%-70% of Guatemala City's wastewater.
The project will have a neutral, if not slightly beneficial, impact on the water quality of Las Vacas river; its implementation will also include an extensive reforestation program that will improve the degraded environment in the area.
Contact: Jean Philippe Prosper
Telephone: (202) 623-3959