There is a reason why the US Department of Energy announced in September 2010 that they were making their largest investment ever into technology to develop marine and hydrokinetic technologies, it's one of the cheapest, most economical grouping of technologies in the alternative energy sector. The same kind of hydrokinetic technologies that Guatemala's World Energy Holdings and Research PLC plans on deploying in over 9 projected areas within the Country harnessing hydropower generated by rivers.
World Energy Holdings and Research (WEH&R) is considered a breakthrough Energy Company in Central and Latin America introducing competitive technologies and gaining projects and market shares from the incumbent power companies and major firms operating in the area. Based on the success of building projects like the Tacana Hydro Electric power plant, World Energy Holdings and Research will advance as a major power provider and player within this region of the world.
The project currently holds a Power Purchase Agreement with the private utility company
associated with the World Energy family of companies.
WEH&R chose the projects based on:
•the project is located wisely;
•cumulative effects have been seriously considered;
•affected aboriginal and other communities have been contacted;
•the headpond, weir and intake have been designed to minimize impacts to fish, sediment
movement and flooding.
The renewable power opportunity with run-of-river technology focuses on:
•displacement of non-renewable power;
•reduction of air emissions;
•reduction of solid waste, toxic metals and nuclear waste;
In November 2009, the EU's long-term financing arm invested over $211 million dollars into similar projects to the Guatemala World Energy Holdings and Research held by Gas de France- Suez Group subsidiaries in counterpart financing from the European Investment Bank to build up the Dos Mares hydroelectric project in Panama.
The loan made by the European Union's long-term financing arm to Alertnegy S.A. and Bontex S.A., which own the concession to the project, will partly finance the 340 million euro ($498 million) hydro complex consisting of a cascade of three run-of-river power plants in western Panama.
The Guanaca, Lorena and Prudencia hydro plants will be built alongside the existing Fortuna and Canjilones plants of the Chiqui River's hydroelectric system. The three new plants will add up to a combined capacity of 117.5 megawatts.
The additional renewable energy capacity will go toward meeting the rapidly growing electricity needs of the South American nation.
The loan was granted under the investment bank's Sustainable Energy and Security of Supply Facility, a 3 billion euro credit line which aims to finance projects that strengthen energy security through promoting renewable power generation in developing countries.
In spite of the global economic downturn which has squeezed credit markets, the bank said it is pushing on with major financing operations in South America "to ensure that viable [and] eligible projects are not jeopardised."
Companies like World Energy Holdings and Research PLC, aim to benefit from the global support surrounding renewable energy production in developing countries and securing energy for South American nations. In line with the goals of the EU, US, Canada, and other supportive development agencies, the goal is to advance Guatemala's energy production privately and within an environmentally sound manner. World Energy Holdings and Research PLC is a publicly listed company on the Frankfurt Stock Exchange, majority owned by Guatemalan residents and select accredited private investment partners.