Houston-based AEI announced its subsidiary, Jaguar Energy Guatemala, has closed US$350mn in financing for a 300MW thermo plant near Puerto Quetzal.

A syndicate of banks led by Banca de Inversión Bancolombia Corporación Financiera and the Central American Bank for Economic Integration structured the financing, AEI said in a statement.

A notice to commence under an EPC contract with China Machine New Energy has been issued, with commercial operations due to begin in 2013.

Jaguar will sell 200MW to distributors Deorsa and Deocsa through 15-year PPAs and the remainder in the local and regional wholesale markets.

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

The bulk of power comes from thermo which represented 63.8% of the 7.98TWh generated in 2009, according to the country’s wholesale market administrator AMM. Demand last year hit 7.93TWh.

Maximum capacity demand last year reached 1.47GW in December, and 1.45GW this year through March 6.

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