Minerco Resources will acquire a 100MW wind power project in Honduras, Central America, from Energia Renovable Hondurenas (ERHSA).
As per the agreement, Minerco will acquire 100% of the Sayab wind farm, located in the Municipality of San Marcos de Colon, in the Department of Choluteca in Honduras.
The wind project is currently in the early feasibility stage of development, allowing Minerco control in the feasibility, development, design and construction phases of the project.
The project, which has secured the necessary land, is expected to begin construction in 2013.
Once fully operational, the scalable project is estimated to have the potential capacity to gross $48m per year.
ERHSA will receive one million restricted shares of Minerco in two installments, while the company is responsible for ongoing expenses through final design and continued operations of the project.