Energy distribution concession awarded in Honduras
Consorcio Energía, a consortium composed of Colombia's Eléctricas de Medellín, Colombia's Union Electrica SA, and the local company Enterprise Consulting SA, has won an energy distribution concession in Honduras.
Eléctricas de Medellín (belonging to ETHUSS Group) will have a 51% stake in the consortium. Union Electrica SA (belonging to Grupo Unión) will have a 25% stake. Both companies are based in Colombia and have broad range of experience in the energy sector. The remaining 24% stake is owned by Enterprise Consulting SA, a Honduran company linked to two financial groups in the country (Banco Atlantida and Banco de Occidente).
Under the terms of the concession, the consortium will invest about $358 million and reduce the losses of Empresa Nacional de Energía Eléctrica by at least 17% over the term of the contract.
The concession period will be 7 years. The private consortium will pay around US$1,113 million during the lifetime of the contract.
The process was managed by Coalianza, the Commission for Promotion of Public-private partnerships in Honduras. The opening of technical and financial bids was conducted on December 11, 2015.
The winning consortium beat out competition from Manitoba Hydro International, Ltd, who did not reach the minimum technical requirements set in the bidding process.
Banco Fihosa advised Coalianza as transaction advisor.
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