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Tag: Agua Zarca Dam

‘New And Repeated Failures’: CABEI’s Many Mistakes in Funding the Agua Zarca Dam
Politics

‘New And Repeated Failures’: CABEI’s Many Mistakes in Funding the Agua Zarca Dam

On the evening of February 27, 2014, Daniel Atala Midence, the young scion of one of the most powerful families in Honduras, felt like a huge weight had been lifted from his shoulders. He had just learned that the family company where he served as chief financial officer had secured a crucial tranche of funding for a hydroelectric dam it was building in the sprawling green highlands of western Honduras. The project, called Agua Zarca, had been delayed by the protests of local indigenous groups, who said the dam would destroy a sacred river and decimate the fish stocks they relied on for food. After a protester was shot, the dam’s financial backer and co-developer had both pulled out. So the Atala family and their company, Desarrollos Energéticos S.A de C.V. (DESA), were counting o...