According to a report issued by the Central Bank of Honduras (BCH), the Central American republic aims to invest $320 million over the period 2013-15 in four separate projects. Two of the biomass centers would be established in Choloma, by the Department of Cortes, powered by an initial investment of $180 million. A third project will land in Potrerillos, with an investment of $60 million and a fourth at Quimistan, Santa Barbara for $80 million.
The BCH report said, “The goods for processing industry (maquila) and related activities in Honduras’ states that the manufacturing industry would continue to develop its strategy for using electricity based on biomass to replace the thermal energy which is purchased at higher prices.”
Up until the 20th century, the Honduras was almost exclusively an agricultural country, with its economy heavily dependent upon growing bananas and coffee. Wracked by stubborn poverty, and stymied by oppressive military rule, the diminutive nation with a population just over eight million has struggled to find secure fiscal ground. After the devastation wrought by Hurricane Mitch in 1998, which killed more than 5,000 and destroyed 70 percent of its crops, the Honduras turned to textile production as a way to shift away from agriculture.