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Minerco Resources plans to buy hydroelectric stake in third deal in Honduras

Thursday, January 27, 2011

Minerco Resources, a developer of renewable-energy sources in Latin America, plans to acquire part of a 2.6-megawatt hydroelectric project in Honduras, its third acquisition in the country this month.

Minerco signed a binding letter of intent to buy between 30 and 80 percent in the so-called Rio Sixe project from the owner Sesecapa Energy. The purchase price was not disclosed. Minerco said it expects revenue from its stake to be between $500,000 and $1.4 million.

Original source: Bloomberg