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