Sunday, May 31, 2009

Work on 300MW Jaguar Project Could Begin Soon

Construction of Jaguar Energy's 300 megawatt, $700 million thermo plant in Guatemala could begin in the second half of this year, according to project parent Houston-based AEI.

Start of works are subject to the securing of financing and completion of other project milestones, AEI said in its 20-F form filed with US securities regulator SEC.

The project has executed an EPC contract with China Machine New Energy, and commercial operations startup is penciled in for 2H12, the form said.

Last year, distributors Deorsa and Deocsa awarded Jaguar 15-year PPAs to supply 200MW, while 75MW are expected to be sold to the Guatemalan and regional market, the form adds.

The plant site is 80km south of Guatemala City in Escuintla.

In Guatemala, AEI already boasts 234MW of thermo capacity through subsidiary Puerto Quetzal Power.