World Energy Research (WER) has secured construction contracts and purchase power agreements for three new hydroelectric projects in Guatemala.
The contracts are the result of full-fledged support from the Guatemalan government.
The nation has rich sources of renewable and non- renewable energy, yet only a small percentage of them have been accessed. WER continues research and development of Guatemala's largely untapped energy resource base. For example, only 7 percent of the country's hydroelectric capacity has been tapped. The new hydro projects announced by WER will increase that percentage substantially.
A WER spokesperson said, "There's a sad irony here. 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."
The company's is focused on the viability of 18 project sites both onshore and offshore. The company expects to be in a position to open up investment offerings in some of these energy projects.
World Energy Research (WER) of Auckland, New Zealand is an energy investment firm operated by a group with more than 57 years combined experience in investments, finance and energy development. The firm nurtures partnerships with governments and international companies to seek out energy investments with the greatest potential for high returns and low environmental impact: clean oil and natural gas, solar energy, wind energy and ocean turbines.
World Energy Research is the parent company of World Energy Capital OFC, an offshore banking company, World Trade Source, a new online trading platform, and the soon-to-be-launched World Energy Media, a news service for the energy sector.
SOURCE World Energy Research
Originally published by World Energy Research.
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