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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Andre Powell, Chief Executive Officer at Deetken Impact

ANDRÉ POWELL

CHIEF EXECUTIVE OFFICER

With over 20 years of experience, André has a long track record of successfully advising public sector clients on significant private sector transactions, including strategic guidance on funding models, complex procurements, economic development and negotiations. Prior to co-founding The Deetken Group, André was a senior Associate at Booz & Co and an Analyst with Accenture’s strategy and finance practice. André is a seasoned investor having been actively involved in the Deetken Capital Investment Pool since inception. André received a BA from Queen’s University and an MA in Economics from the University of British Columbia.

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Jose Lamyin

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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

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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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German graduated in Business Administration from the Institute of Business Administration IPAE (Lima, Peru) and holds a Diploma in Marketing & Sales Management at the Universidad San Ignacio de Loyola. He also holds an MA in Marketing & Sales Management from the ESIC Business and Marketing School (Spain).

 

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Carl has over 5 years professional experience successfully working with clients to develop and improve policy, strategy, and operations. He has advised public sector clients and non-profits in Canada and financial services companies in Latin America. Prior to joining The Deetken Group Carl worked at the Bank of Canada, where he focused on 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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Samir received his BS in Engineering from the University of British Columbia and his MBA (Finance) from Queen’s University.

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CHAD PARSONS

SENIOR ANALYST

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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