Roatan Electric Company

What Roatan Electric Company does

Roatan Electric Company (RECO) is the sole regulated electric utility serving Roatan island in the Bay Islands department of Honduras, founded in 1992 and operating for over 29 years. It holds 100% market share on the island, supplying electricity to more than 60,000 residential, commercial, and industrial customers, supported by 139 direct employees and roughly 700 indirect jobs. The company operates as a vertically integrated generation, distribution, and retail utility within the geographic confines of the island, with revenue derived from regulated electricity tariffs across customer segments tied to tourism, residential, and light industrial demand.

RECO's generation portfolio totals 43 MW of installed capacity, structured as a hybrid LPG, solar, and wind system. The 28 MW LPG plant — transitioned from diesel starting in 2016-2017 — anchors baseload supply, while the Trade Winds wind park (3.9 MW) and the South Shore Solar Park (12 MW) provide indigenous renewable generation. Grid stability is managed through Wärtsilä's Battery Energy Storage System (BESS) and GEMS energy management platform, enabling the integration of variable renewable resources and reducing diesel/LPG consumption. The fuel transition delivered a 95% emissions reduction and avoided approximately 200,000 metric tons of CO2.

The business model is a regulated utility model: RECO earns revenue by selling electricity to customers on the island at tariffs set within the Honduran regulatory framework, with the customer base distributed across residential households, tourism-related commercial accounts (hotels, restaurants, marinas), and industrial users. The company has invested in operational modernization — implementing a modern ERP system and partnering with GINIH and BICA for digital payment collection — to improve billing efficiency and customer experience. Strategic partnerships with Wärtsilä (technology), Roatan Marine Park (environmental stewardship), and the Honduran Navy (security coordination) extend RECO's role beyond pure utility operations into community and infrastructure stewardship, with no disclosed plans for geographic expansion beyond Roatan.

Name

Roatan Electric Company

Legal name

Roatan Electric Company

Website

https://recoroatan.com

Company type

Private

Founded year

1992

Operating status

Operating

Headcount range

51–100 employees

Short description

Roatan Electric Company (RECO) is the sole regulated electric utility serving Roatan island in Honduras, providing electricity to 60,000+ residential, commercial, and industrial customers through a 43 MW hybrid generation portfolio of LPG, solar, and wind, stabilized by Wärtsilä BESS and GEMS grid management technology.

Ownership category

akta.pro rank

Product category

Electric Utility Services

NAICS

Electric Power Generation, Transmission and Distribution (2211), Electric Power Generation (22111), Solar Electric Power Generation (221114), Wind Electric Power Generation (221115)

SIC

Electric Services (4911), Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

Electrical Systems O&M (Substations, Transformers, Switchgear, Protection & Controls) (EUAMAGAH)

akta.pro secondary industries

Substations, Transformers & Grid Step-Up Facilities (EHV Substations, GSU Transformers) (EUAMAFAE), Electrical Balance-of-Plant EPC (MV Collection, Cabling, Earthing, Lighting) (EUAEADAB)

Keywords

• Electric utility services
• Electricity generation
• Power distribution
• Renewable energy
• Clean energy generation

Headquarters

HQ city

Roatán

HQ country

Honduras

HQ region

Latin America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Infrastructure, Personnel, Operations, Supply Chain, Technology or R&D, Marketing or Sales

Revenue model

1. Electricity Generation and Distribution: Core electricity service providing 100% of the energy demand for Roatan island including residential, commercial, and industrial sectors. Revenue generated through electricity tariffs and billing for metered consumption.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels5 records

Core offering

Roatan Electric Company (RECO) generates and distributes electricity as the sole utility provider for Roatan island in the Bay Islands of Honduras. The company operates a multi-source generation portfolio totaling 43 MW (LPG 28 MW, wind 3.9 MW, solar PV 12 MW) integrated with battery storage and a centralized energy management system, supplying metered residential, commercial, and industrial customers 24/7 with accompanying public lighting and online bill payment services.

Product overview

RECO (Roatán Electric Company) operates as an electric utility providing electricity generation and distribution services to Roatán island. The company operates a multi-source generation portfolio totaling 43 MW installed capacity, consisting of: an LPG power plant (28 MW), Trade Winds wind park (3.9 MW), and South Shore Solar Park (12 MW). These generation assets are supported by BESS battery storage and GEMS energy management system (both from Wärtsilä) for grid stabilization. On the customer-facing side, RECO offers online payment services through the GINIH platform, public lighting services, and distribution network maintenance. The company has transitioned from diesel to cleaner LPG fuel since 2017 and achieved 95% reduction in gas emissions, with a goal of 200,000 metric tons CO2 reduction over four years.

Differentiator

Problem solved

Functional benefit

Brands

• South Shore Solar Park: A 12 MW solar generation facility located in the south of the island contributing to clean energy production.
• Trade Winds
• GINIH

Quantifiable outcome

• 43 MW installed capacity covers 100% of island energy demand
• +2 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature6 records

Partnerships

Seven partnerships are on record, tiered core, major and minor.

• GINIHcoreTechnology or Integration · 1 October 2021Partnership with GINIH to provide online payment platform for electricity bills. GINIH is a digital wallet platform available 24/7 for bill payment and account management. RECO customers can access the service through QR code scanning, mobile app (App Store/Play Store), or web portal. Platform launched October 2021 with full customer onboarding.
• WärtsiläcoreTechnology or Integration · 1 June 2021Wärtsilä provides generation and storage equipment for RECO's solar projects including BESS systems. Wärtsilä engineers conducted advanced training for RECO generation staff on the operation of battery storage systems and GEMS energy management. Experts trained nine RECO generation team members on hardware, protection systems, and operational procedures. Wärtsilä supplied critical technology for the 12 MW solar park and battery storage integration.
• BICA (Bay Islands Conservation Association)majorStrategic or Co-development Partner · 1 January 2021Environmental partnership for ecosystem protection including mangrove planting (1,000+ red mangrove plants) and recycling initiatives. BICA provides nurseries for ecosystem restoration projects. Joint 'Energy in your Community' social action program. Collaboration on environmental education in schools and communities.
• Honduran Navy ForceminorStrategic or Co-development Partner · 1 January 2021Collaboration on environmental protection including mangrove planting initiatives. Joint volunteer activities with company employees for community environmental projects.
• Roatan Marine ParkmajorStrategic or Co-development Partner · 1 January 2020Strategic alliance for marine conservation and environmental protection. RECO is a proud sponsor of Roatan Marine Park. Joint community initiatives including food donations and environmental programs. Partnership supporting sustainable development of the island ecosystem.
• Acción HondurasminorStrategic or Co-development Partner · 1 January 2020Alliance for community support including food donation programs. Joint efforts to assist communities affected by storms and pandemic with 130 food baskets delivered to Punta Gorda community.
• AHPESCAR (Honduran Association of Responsible Sport Fishing)minorGTM or Marketing Partner · 1 January 201010 consecutive years of sponsorship for the Roatan International Fishing Tournament. Annual tournament sponsorship supporting fundraising for non-profit organizations. Beneficiary organizations include RBC Insular, Roatan Hospital/Lions Club, and CATTLEYA disability association.

Scale indicators7 records

Recent moves7 records

Expansion highlights5 records

Others

• Wärtsilä: RECO's core technology partner providing BESS and GEMS systems. Relevant as an enabling technology provider whose grid solutions are deployed across island utilities globally, similar to RECO's installed systems.

Direct peers

• Jamaica Public Service (JPS): Vertically integrated electric utility serving Jamaica with a 620 MW generation portfolio. Comparable Caribbean monopoly utility with similar fuel mix and grid modernization initiatives.
• Barbados Light & Power: Electric utility serving Barbados with generation, transmission, and distribution. Comparable Caribbean integrated monopoly utility, though at a larger scale and more developed market.
• Caribbean Utilities Company: Vertically integrated electric utility serving Grand Cayman, Cayman Islands. Most directly comparable Caribbean island monopoly utility with a similar scale profile, generation/distribution model, and customer mix.
• Bermuda Electric Light Company (BELCO): Vertically integrated electric utility serving Bermuda. Comparable small-island monopoly utility with similar customer segments and operational model.
• Bahamas Power and Light (BPL): State-owned electric utility serving multiple Bahamian islands. Comparable as an island-archipelago monopoly utility with similar generation mix and customer profile, though at much larger scale.
• Dominica Electricity Services (DOMLEC): Electric utility serving the island of Dominica, with significant hydroelectric and diesel capacity. Comparable small-Caribbean island utility model with mixed renewable generation.
• St. Lucia Electricity Services (LUCELEC): Integrated electric utility serving Saint Lucia with generation, transmission, and distribution. Directly comparable Caribbean island utility with similar operational model and regulatory framework.
• Grenada Electricity Services (GRENLEC): Integrated electric utility serving Grenada, Carriacou, and Petite Martinique. Comparable small Caribbean island monopoly utility with similar generation profile and customer mix.

Regional players

• Empresa Nacional de Energía Eléctrica (ENEE): National electric utility of Honduras serving the mainland. Comparable as a Honduras-domiciled electric utility operating under the same country regulatory framework, though mainland-focused rather than island-focused.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/recoroatan
• LinkedInlinkedin.com/company/roatan-electric-company

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Roatan Electric Company