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Over the past 2 years Deetken Impact has travelled extensively in Honduras, from Omoa in the North to Choluteca in the South to Danli, east of Tegucigalpa, the country’s capital. The starting point of our current journey is the town of Omoa, a small fishing village of around 30,000 people on the Caribbean coast, 18 km west of the large port city of Puerto Cortes. While indicators of poverty are lower here than in other areas of the country, they are still elevated. We are visiting a small hydro project up in the hills in a small community some distance from the main highway. 

Hydro power project near Omoa, Honduras.

Small hydro power project near Omoa, Honduras.


Honduras has set ambitious goals for electricity generation from renewable sources, expecting to reach a 95% share by the end of the next decade.  With significant recent capacity additions, the country has already made great progress helped by both price and tax incentives. As of 2017 close to 60% of the electricity generated came from clean sources with hydropower leading the way with 34%, while solar (10%), biomass (7%), wind (6%), and geothermal (1%) sources made up the rest. At the start of this decade the situation was the reverse, with close to 60% of generation from thermal sources. Honduras is now the second largest solar market in Latin America behind Chile, and one of the first non-island countries in the world with at least 10% solar energy for electricity generation.


                   “Honduras has set ambitious goals for electricity generation

                     from renewable sources, expecting to reach a 95% share

                                         by the end of the next decade”.   


Despite this progress, there is still a lot that can be done. First of all, Hondurans don’t have universal access to electricity; according to the latest data from the World Bank, in 2016 only 87% of the population had access. Second of all, as the economy of Honduras develops, energy consumption is expected to increase. Energy consumption is currently about 800 KWh per capita compared to a global average of 3,000 KWh per capital and consumption of more than 15,000 KWh per capita in Canada. Given the country’s geography and weather conditions, there is significant untapped hydro potential. Development of more small-scale hydro projects in Honduras would not only contribute to increased access to electricity from a renewable source but it could also be done with significant social benefits to the communities involved further contributing to a more sustainable development.  


Social Impact of a Small Hydro Project


Canal of water built as part of the hydro project near Omoa, Honduras

Canal as part of the small hydro project near Omoa, Honduras.


Deetken Impact works with small-hydro project developers who emphasize community consultation and local benefit. The project we are visiting near Omoa includes water treatment facilities and required the construction of a new 1.5 km road. Transmission lines built along that road have provided some rural Hondurans with access to electricity for the first time in their lives. Featuring a 2 km canal, the site is also strikingly beautiful. The project employs 8 staff to operate the hydro facility, including individuals hired locally. A soccer field was also built as an additional benefit for the community. This type of local community consultation and tangible benefit is critical for the sustainable implementation of more renewable energy capacity in the decade to come as Honduras strives towards 100% renewable energy generation.


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Magali Lamyin, Director of Communications and Development for Deetken Impact


Director of Communications and Development


Magali brings extensive market intelligence, business development and marketing experience from her work at the Central Bank of Mexico, the Canadian Institute for Market Intelligence, and the IESE-PWC e-Business Centre in Barcelona. She also co-led national marketing campaigns for businesses in the hospitality and early childhood education sectors for almost a decade before joining Deetken. In her current role, she is responsible for leading Deetken Impact’s communications, marketing and branding strategy. She is also involved in the due diligence process for project selection with an emphasis in Mexico.

Magali holds a BA in Economics from Mexico's ITAM and a Master's degree in Economics from the University of British Columbia.

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Jose Lamyin, Managing Partner Deetken Impact


Managing Partner


José has extensive experience as a business advisor for clients throughout Canada, Europe and Latin America in mining, telecommunications, and finance. Prior to co-founding The Deetken Group, José worked for Teck Cominco in Peru and Canada and Deutsche Bank in London (UK). José has spearheaded much of the strategic growth of Deetken Asset Management since inception and is currently focused on investment selection.

José received his BS in Engineering from the University of British Columbia and MBA from IESE School of Business (Barcelona). Born in Peru, José is fluent in English and Spanish.

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Alexa Blain, Managing Partner Deetken Impact


Managing Partner


Alexa is responsible for finance, operations and investor relations at Deetken Impact. She brings over 10 years of experience in financial consulting and asset management, with specific expertise in company and investment analysis, business valuation and securities/corporate finance. Prior to joining Deetken, she spent three years with African Alliance, a pan-African financial services group, where she focused on expanding the firm’s retail financial services operations as well as on the origination and negotiation of new capital. In addition, Alexa has six years of asset management experience with the Canada Pension Plan Investment Board, the Macquarie Group and the Ontario Teachers’ Pension Plan.

Alexa is a CFA Charterholder. She has also completed an MA in Financial Economics and an Honours BA in Economics, both at the University of Toronto.

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Fernando Alvarado, Head of Deetken Impact Sustainable Energy



Honduras Renewable Energy Managers (HREM) and Caribbean Renewable Energy Managers (CAREM)


Fernando Alvarado leads the General Partner and Investment Advisor of two clean energy and energy efficiency project finance and venture capital funds: Honduras Renewable Energy Financing Facility (H-REFF) and Caribbean Basin Sustainable Energy Fund (CABEF), which he structured and runs with a combined target capitalization of $100m.

Development Investment Banker with 28 years of international credit and investment experience and 18 years of direct experience assessing diversified renewable energy portfolios in Latin America & the Caribbean. He has participated in more than 50 syndicated credit and investment transactions for renewable energy projects in excess of $250 MM. He led the creation, structuring, fundraising, legal closing and portfolio construction of several specialized renewable energy funds.

Costa Rican, based in San Jose, Mr. Alvarado has an MBA in Banking and Finance cum laude from Universidad de Costa Rica.

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Carl Black, Portfolio Manager Deetken Impact


Portfolio Manager


Carl is a Portfolio Manager with Deetken Impact focused on analyzing and working with MSMEs, social enterprises, and renewable energy developers in Latin America and the Caribbean. His main responsibilities include supporting business development, managing technical assistance projects, leading investment due diligence, and monitoring portfolio performance. Prior to joining Deetken Impact, Carl worked for five years as a consultant, advising public sector clients an non profits in Canada and financial services companies in Latin America. He started his career at the Bank of Canada, where he researched issues related to household and business credit. 

Carl completed an Honours BA in Economics at the University of British Columbia. He also holds an MSc in Economics & Development from the University of Oxford, where he earned distinctions in quantitative and development economics.

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Cristobal Aguirre, Investment Analyst at Deetken Impact


Investment Analyst


Cristobal has over 6 years of experience in the asset management industry, where his responsibilities have ranged from asset allocation and portfolio management to risk analysis and software development. Before relocating to Canada, Cristobal worked as a senior investment analyst in AFP Habitat—Chile’s largest pension fund—where he led the tactical asset allocation and macroeconomic research for emerging markets.

Cristobal is a CFA Charterholder, and completed a BA in Economics at Universidad de Chile.

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Chad Parsons, Senior Investment Analyst at Deetken Impact




Chad has worked as a consultant in business and technology for 20 years – often helping clients with their business transformation initiatives.    He has worked with start-ups, government, and established businesses to further their product and service offerings with a balanced approach.   After pursuing a research degree on leveraging technology for social and economic development; Chad has found a valuable alignment of his background with Deetken’s innovative impact investments. 

Chad completed a BS in Engineering from the University of British Columbia and has a MSc with distinction from the University of Manchester (UK).

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