Inversiones de Generación Eléctricas, S.A. (“Ingelsa”)
Category A projects could result in potentially significant environmental and/or social risks and impacts, which are diverse, irreversible, or unprecedented that may extend beyond the boundaries of the actual project site or facilities. In principle, Category A includes projects which have significant impacts on protected or sensitive areas21 and/ or vulnerable groups.
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
Hermacasa, S.A and Emin J. Abufele
Garcia de Paredes, Margarita Raquel
USD $ 20,250,000
Project scope and objective
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$75.6 million, including reserve accounts, financing costs and interest during construction. IDB Invest will participate in the financing by providing senior debt for US$20.25 million.
This enhanced project webpage seeks to increase IDB Invest's sharing of information on the PH Jilamito and updated efforts related to the project.
PH Jilamito provides a unique opportunity to showcase what a viable, sustainable, and socially inclusive small hydro-power project can do for an under-served and underdeveloped area. Beyond putting an end to the frequent power outages that plague the northern region, PH Jilamito will positively impact the lives of Hondurans by providing clean energy, more jobs, and a plan to manage and protect the area’s natural resources:
- The project is expected to produce 84.7 GWh per year of renewable energy, that will help reduce the 250 MWh deficit affecting the country.
- The project will create 400 local construction jobs and 30 operation positions, mobilizing the region’s economy.
- In conjunction with the community and local NGOs, PH Jilamito will contribute with the reforestation of 70 hectares of national park that have been negatively affected by agricultural activities.
- PH Jilamito will support the management of Texiguat Wildlife Reserve, a known habitat for several threatened endemic species, including seven frog specimens discovered while performing the project’s environmental and social due diligence.
- Through an alliance with water boards (“juntas de agua”) and local communities, new infrastructure will be set up to ensure safe and sustainable drinking water for the communities in the project’s area of influence.
Latest news and external links
Ingelsa Jilamito Project Website
Ingelsa Environmental initiatives
Multipurpose calls for the respect of Human Right
For inquiries, comments and information requests about the projectRequest information
Alternatively, you may also use the following contact information:
+(504) 2565-2820 Ext. 910
IDB Invest Contact
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