Micro solar energy Guatemala

Does Guatemala have solar energy?

Notably, Guatemala has seen previous ventures into solar energy, including the announcement of a 5 MW photovoltaic project in 2014 and a subsequent tender for a 110 MW project in 2019, which was later cancelled. As of 2023, the country had an installed photovoltaic capacity of 105 MW, according to IRENA statistics.

Is Guatemala a good place to invest in solar energy?

Guatemala is the second largest Central American power market, with a goal to increase renewable energy use. Relatively high levels of solar irradiance and large areas of cleared land give the country a strong potential for increased solar energy development.

Why did BMR decide to buy a solar farm in Guatemala?

As part of its evaluation process, BMR determined that the solar farm offered a strong return that was supported by Guatemala’s well-established and stable regulatory system. BMR navigated a complex and cooperative sales process that involved four owners across three legal jurisdictions.

How does green solar work?

Reduces greenhouse gas emissions by 10,000 tons of CO2 equivalent per year. Local Guatemalan staff provide support for all operation, maintenance and commercial management at the site. The original owners of the Green Solar project approached BMR seeking financial investment.

How much electricity does Magdalena Solar generate a year?

Expected to be operational by mid-2025, Magdalena Solar is projected to generate approximately 141 GWh of electricity annually.