WSHPDR_2013_Final_Report-updated_version
WSHPDR_2013_Final_Report-updated_version
WSHPDR_2013_Final_Report-updated_version
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addition to long period of contract preparation for<br />
structuring projects.<br />
Exposure to the risk of legal challenges by another<br />
developer for a site that is under prospecting or<br />
licensing process.<br />
Requirement to establish a trust to control the<br />
property of assets, contracts, rights and cash<br />
flows of the project.<br />
Economic:<br />
A lack of coverage and capacity of electric grid in<br />
areas with high hydropower potential, thus<br />
requiring major investment in interconnection<br />
lines.<br />
A lack of coverage and maintenance of roads in<br />
areas with high hydropower potential, thus<br />
requiring major investment in access roads.<br />
Charges or duties for the volume of water used to<br />
generate energy, rather than for the energy<br />
produced.<br />
Commercial:<br />
Saturation of the consumer market for self-supply.<br />
Low credit rating of prospective energy<br />
consumers. And the low price of the energy<br />
delivered to the national electric system.<br />
Exposure to the risk of gradual or sharp decline in<br />
energy prices due to energy bids.<br />
Difficulty to access mechanisms of payment for<br />
greenhouse gas emissions reduction<br />
Financial:<br />
Lack of financing options for the prospecting and<br />
pre-feasibility phases.<br />
Limitation of funds made available by commercial<br />
banks for small hydropower projects, in some<br />
cases due to lack of specific experience.<br />
Terms of commercial credit in the country are not<br />
conducive, regarding interest rate, loan term and<br />
grace period.<br />
Requirement to augment the ratio of equity<br />
capital to debt and the condition to disburse<br />
equity capital prior to using debt capital.<br />
Requirement to structure syndicated loans for<br />
larger projects.<br />
Difficulty access to mezzanine funds, clearly<br />
subordinated to principal debt, to complement<br />
equity capital.<br />
High requirements of banks to assess the specific<br />
track record and financial solvency of the project<br />
developers.<br />
High requirements of financial guarantees,<br />
beyond the project expected cash flows, such as<br />
long term power delivery agreements, high credit<br />
rating of energy consumer partners, construction<br />
and supervision contracts with highly ranked firms<br />
(EPC), operation and maintenance contracts<br />
during the loan term and the requirement of<br />
opinions from independent experts.<br />
Difficulty to access mechanisms of partial<br />
guarantees of the loan and of guarantees against<br />
project cost overruns.<br />
References<br />
1. Consejo Nacional de Población (2009). Proyecciones<br />
de la población de Mexico 2010-2050. Available from<br />
http://conapo.gob.mx/es/CONAPO/Proyecciones.<br />
Accessed March 2009.<br />
2. Central Intelligence Agency (2012). The World<br />
Factbook. Available from<br />
www.cia.gov/library/publications/the-world-factbook<br />
3. Comisión Nacional del Agua (2012). Servicio<br />
Meteorológico Nacional. Available from<br />
http://smn.cna.gob.mx/. Accessed November 2012.<br />
4. Secretaría de Energía (<strong>2013</strong>). Prontuario Estadístico<br />
del Sector Energético. Mexico, D.F. Available from<br />
www.sener.gob.mx/webSener/portal/Default.aspx?id=<br />
1432.<br />
5. Comisión Reguladora de Energía (<strong>2013</strong>). Permisos<br />
de generación e importación de energía eléctrica.<br />
Available from www.cre.gob.mx/articulo.aspx?id=171.<br />
Accessed March <strong>2013</strong>.<br />
6. Comisión Federal de ELectricidad (<strong>2013</strong>). Centrales<br />
generadoras al mes de mayo de <strong>2013</strong>. Available from<br />
www.cfe.gob.mx/ConoceCFE/1_AcercadeCFE/Estadisti<br />
cas/Paginas/Centrales-generadoras.aspx. Accessed<br />
March <strong>2013</strong>.<br />
7. Instituto Nacional de Estadística y Geografía (2010).<br />
National census ITER 2010. Available from<br />
www.inegi.org.mx/sistemas/consulta_resultados/iter2<br />
010.aspx. Accessed November 2012.<br />
8.Organización Latinoamericana de Energía (2012).<br />
2012 Energy Statistics <strong>Report</strong>. Quito.<br />
9. Secretaría de Energía (2010). Balance Nacional de<br />
Energía. Mexico, D.F. Available from<br />
www.sener.gob.mx/res/PE_y_DT/pub/2011/Balance%2<br />
0Nacional%20de%20Energ%C3%ADa%202010_2.pdf.<br />
10. Comisión Nacional para el Ahorro de Energía<br />
(1995). Estudio de la Situación Actual de la<br />
Minihidráulica Nacional y Potencial en una Región de<br />
los Estados de Veracruz y Puebla. Available from<br />
www.conae.gob.mx.<br />
11. Secretaría de Energía (<strong>2013</strong>). Estrategia Nacional<br />
de Energía 2012-2026. Mexico, D.F. Available from<br />
www.energia.gob.mx/res/PE_y_DT/pub/2012/ENE_20<br />
12_2026.pdf.<br />
12. Armando Trelles and others (2006). Identificación y<br />
evaluación de proyectos minihidroeléctricos en la<br />
cuenca del río Culiacán. Informe de proyecto TH0658.3.<br />
Instituto Mexicano de Tecnología del Agua, Jiutepec.<br />
13. Armando Trelles and others (2006). Identificación y<br />
evaluación de proyectos minihidroeléctricos en la<br />
cuenca de los ríos Nautla y Tecolutla. Informe de<br />
proyecto TH0659.3. Instituto Mexicano de Tecnología<br />
del Agua, Jiutepec.<br />
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