Honduran Export Processing Industry Will Invest US$160 Million in Green Energy

2011-12-26

Daniel Facussé, president of the Export Processing Association of Honduras (La Asociación Hondureña de Maquiladores, AHM) said on Friday that the Honduran export processing industry would invest US$160 million in green energy. The nation’s energy problem is worsening. The state owned electrical company is continuously raising the price of electricity, putting great burdens on the public and the business. Mr. Facussé said that northern Honduras is suitable for the development of biomass energy. A portion of the investment fund will be devoted to massive plantings of trees for biomass energy, which will then generate electricity. It is estimated that it will create 4,000 employment opportunities. This investment is good news to the Honduran export processing industry. The continuous rate increases by the Honduran electricity company this year have caused the closure of some export processing plants, which in turn causes foreign investors to cast doubts over investing in Honduras.