Guatemala is an economically poor country that is rich in renewable and non-renewable energy sources. However, only a very small percentage of the country's energy resources have been tapped. For example, only 7% of its hydropower potential has been harnessed.
With the completion of the three new projects, that figure will rise significantly.
Furthermore, in spite of being the largest oil producer in Central America, Guatemala has to import fuel oil to run its power stations. WER intends to help Guatemala explore and develop new ways to become self-sufficient in terms of energy.
In addition to hydropower, WER is exploring the nation's potential to generate power from biomass, geothermal energy, solar and wind energy. According to WER's findings, the country's renewable energy sources have the potential to generate enough power for the whole of Central America. If tapped, the solar energy generated could meet the region's needs for the next five to six years.
According to WER's estimates, Guatemala's energy resources have the potential to generate 10,900 MW of hydropower, 7,800 MW of wind power, 1,000 MW of geothermal energy, and 5.3 kilowatt-hours (kWh) of solar power per square meter per day. The wind power potential has been estimated by the United Nations.
WER is currently studying the feasibility of 12 onshore and offshore project sites, with a strong focus on environmentally friendly oil and natural gas extraction techniques. The company hopes to attract external investors to participate in some of the projects. Three of the sites are offshore natural gas reserves and are located off Guatemala's Pacific coast.
The nine onshore sites are in the departments of Alta Verapaz, Huehuetenango, Quiché and Peten. All the projects will be contracted out by the government and be operated by private parties. In addition to power projects, WER is formulating long-term plans for the preservation of the country's Maya Biosphere Reserve, the world's second-largest oxygen-producing natural habitat. The Brazilian Rainforest is the largest oxygen-producing habitat.
WER is in the business of building partnerships with global companies and governments and seeking out energy investment possibilities that have the potential for high returns with minimal impact on the environment. The company creates partnerships with technologically advanced companies in the energy sector and makes their projects available to its investors. WER focuses on solar energy, wind energy, ocean turbines, natural gas, and clean oil.