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Canada lends a hand in Guatemala

Powerhouse Energy Corporation of Canada, has formed a joint venture with Selmeca LTDA Servicios Electromecanicos of Guatemala to build a US$31M hydroelectric power project. Under the terms of a joint venture agreement, Powerhouse Energy will retain 75% ownership and Selmeca 25% ownership of the plant.

The 21MW Turingia project, located approximately 84.5km west of Guatemala City, will provide 89.7GWh of electrical energy per year, and an annual revenue of US$7M. The power will be sold to the Guatemalan government.