The boom in renewable energy tenders sweeping through Central America is changing the way developers design their projects, and for María José Muñiz, Commercial Director (CCO) & Strategy at Asturmadi Reneergy, this change is already beginning to be reflected in a preference for fixed structures over trackers .
The executive argued that, in a context of increasingly tight energy prices and more competitive photovoltaic modules, financial predictability and operating costs now carry more weight than the pursuit of maximum generation.
"In Guatemala, and in Central America in general, especially due to the latitude where we are located, fixed infrastructure currently predominates over tracker installations," Muñiz explained exclusively during the Future Energy Summit Guatemala 2026 .
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This trend reflects the current situation in the region. While Guatemala awarded 1258 MW in the PEG-5 tender , with a strong focus on solar projects with storage, Honduras is preparing a 1500 MW tender , and Panama is consolidating processes with increasingly competitive renewable energy prices , increasing the pressure on developers to submit more efficient and financially sound bids.
The executive attributed this change, in part, to the sharp drop in the price of photovoltaic modules, which allows for compensating for the difference in production compared to a tracker through a higher ratio between nominal power and peak power.
"The price of the module is currently very competitive, so with an increase in the ratio of nominal power to peak power, energy generation values very similar to those of the tracker can be achieved," he explained.
However, he argued that the factor that ultimately tips the scales is the bankability of the project .
"With a fixed-rate system, the financial model is much more reliable, since you don't have an undefined cost in the operation and maintenance component," he stated. In that regard, he explained that with trackers, both the generation estimate—conditioned by variables such as wind alerts—and the operation and maintenance costs can show greater deviations from the initial projections.
The market transformation is not solely about finance. The increasing power output of solar modules also necessitates a review of structural design and assembly criteria, especially in markets exposed to extreme weather conditions.
"We are already reaching a size of almost 2.4 meters by approximately 1.2 meters; it is a very considerable size," Muñiz noted.
Faced with this scenario, he explained that Asturmadi Reneergy is working with the main module manufacturers to optimize the fixing between panels and structures.
" We need to work hand in hand with the main module manufacturers to define how the module is attached to the structure ," he said.
The company backs up that experience with projects developed in the Caribbean.
"Proof of this is the almost 900 MW that we have installed in the Dominican Republic and Puerto Rico in recent years, where the wind speed reaches 270 or 280 km/h," he highlighted.
According to the executive, technological evolution also changed the way a photovoltaic plant is evaluated.
" The solar plant is ultimately a financial model ," he summarized. Following that logic, he explained that the analysis no longer focuses solely on the initial CAPEX, but also on the savings during the assembly, operation, and maintenance of the park.
Central America gains prominence on the renewable energy map
The ongoing tenders in the region reinforce this interpretation. Guatemala has already announced a PEG-6 tender, focused on adding approximately 300 MW of firm energy , in addition to a new transmission expansion through PET-4 . Honduras is looking to relaunch its tender for 1500 MW , while Panama continues to consolidate renewable energy contracts with increasingly competitive prices.
In that scenario, Muñiz considered that the region has the conditions to consolidate itself as one of the markets with the greatest growth potential.
"Central America is really going to have a privileged position in terms of renewables," he said.
The executive explained that this advantage is due to a diversified electricity matrix, where hydroelectric, geothermal and solar resources coexist, in addition to an interconnected regional system that favors the development of new projects.
"It already has a matrix with a good percentage of renewables; in Central America we have hydroelectric, geothermal and solar power that is growing faster every day. It really positions itself as one of the renewable hubs with the greatest development capacity," he emphasized.
From this perspective, Asturmadi Reneergy identified Central America and the Caribbean as one of its main growth priorities. Guatemala plays a central role in this strategy: the company participated in one of the first photovoltaic plants built in the country in 2014 and currently has a local office.
"Central America and the Caribbean are one of our priority and target regions. Guatemala, in particular, is a key focus: my first experience there was back in 2014, at one of the first plants built in the country, and we now have a local office here. Our goal is to become a leading company in the sector, backed by the experience we've gained since 2014," he concluded.