Both subsidiaries are geared to the renewables sector, specifically solar and photovoltaic energy.
In Honduras, local personnel are already working at a number of sites while, in Bulgaria, company personnel are performing maintenance work at the country's largest photovoltaic plant.
The company first entered the market in Honduras with projects for the renewables sector, primarily for the PV sector, to become the leading provider of Operation and Maintenance services in Latin America, where it has maintenance contracts for 2.5 GW.
Ingeteam is present in this country through the provision of maintenance services at PV plants, totaling 82 MW and accounting for 20 percent of the country's total installed power.
Honduras is firmly committed to renewable energies, with an incentive policy approved in 2013 through the Law for the Promotion of Electricity Generation from Renewable Resources. This has boosted the growth of the installed renewable energy during this period. Currently, half the country's installed power is from renewable sources.
In Bulgaria, Ingeteam is present in the wind power market, and is responsible for the maintenance of three wind farms totaling 90 MW while, in the PV market, the company carries out the maintenance of a 60 MW PV plant, the largest in Bulgaria.
The renewables market in Bulgaria is mature and stable, thereby facilitating the entry into the country of O&M service companies such as Ingeteam.
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