Some of Guatemala’s extensive hydropower and other renewable energy resources could be developed over the next few years to make the country more more self-sufficient in energy, says a New Zealand-based research and investment firm.
World Energy Resources (WER) has secured construction contracts and power purchase agreements for three new hydropower projects in the country from the government, and is also exploring opportunities to develop geothermal, solar and biomass resources.
Only seven per cent of Guatemala’s hydropower potential of 10 900 MW has so far been tapped, according to WER, which believes that the country’s solar, biomass and geothermal resources alone could energize all of Central America.
“There’s a sad irony here,” said a WER spokesperson. “Guatemala possesses all these sources of energy. Plus it’s the largest oil-producing nation in Central America. Yet it has to import expensive foreign fuel oil to run its power stations.
“Our research and development work in the country is turning up new ways to make Guatemala energy self-sufficient in the near future.”
WER’s research indicates that Guatemala has a geothermal energy potential of 1000 MW and a wind energy potential of 7800 MW. Its solar potential is 5.3 kWh/m2/day.
WER says it is focusing on assessing the viability of 18 project sites and expects to be able to open up investment offerings in some of them.
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