Honduras' government has signed an agreement to expand the country's wind energy capacity by 24 MW to 126 MW, the natural resources and environment ministry said.

The agreement was signed Wednesday in Tegucigalpa by that portfolio's No. 2, Roberto Cardona, and Jay Gallegos, the legal representative of Energia Eolica de Honduras, a unit of wind-project developer Globeleq Mesoamerica Energy.

The expansion will occur in the first half of 2013 and cost $63 million, the ministry said in a statement.

Honduras' first wind farm, inaugurated in February with a generating capacity of 102 MW, consists of 51 turbines and is located in the Cerro de Hula sector just south of Tegucigalpa.

Honduras' electricity demand exceeds 1.3 GW, 30 percent of which is met by hydroelectric dams and the rest by thermoelectric plants, most of them privately owned. EFE