Guatemala solar park: Discover the 75MW Tierra del Sol Project
The project is expected to create jobs during its construction and operational phases, bringing economic benefits to the local community. According to the Ministry of
Notably, Guatemala has seen previous ventures into solar energy, including the announcement of a 5 MW photovoltaic project in 2014 and a subsequent tender for a 110 MW project in 2019, which was later cancelled. As of 2023, the country had an installed photovoltaic capacity of 105 MW, according to IRENA statistics.
Guatemala is the second largest Central American power market, with a goal to increase renewable energy use. Relatively high levels of solar irradiance and large areas of cleared land give the country a strong potential for increased solar energy development.
As part of its evaluation process, BMR determined that the solar farm offered a strong return that was supported by Guatemala's well-established and stable regulatory system. BMR navigated a complex and cooperative sales process that involved four owners across three legal jurisdictions.
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