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New investment in the energy sector of El Salvador

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Real Infrastructure Capital Partners inaugurated today the projects “Los Remedios, La Trinidad y Márquez”, three new photovoltaic plants in Acajutla that, along with the operating projects in the municipalities of San Juan Opico, Tecoluca and San Luis Talpa, positions the company as the second biggest generator of solar energy in El Salvador.

 

The government of El Salvador joined this new investment, through the Vice-Presidency of the Republic, the National Council of Energy (CNE), the General Superintendence of Electricity and Communications (SIGET), and the Promoter Organism of Exports and Investments of El Salvador (PROESA), who supported this company in the establishment of its projects and provided accompaniment in the process of obtaining the permissions that allowed to set them in motion.

 

The Project “Los Remedios” has an installed capacity of 25.62 MWdc and represents a total investment of $43.26 million. For its financing, it was primarily supported by Banco Agrícola of El Salvador, subsequently, by Banco Davivienda Salvadoreño S.A., besides of the resources of its investors.

 

The projects “La Trinidad and Márquez” installed is 18 MWdc and together with the operating projects in San Juan Opico, Tecoluca and San Luis Talpa add up a total installed capacity of 29 MWdc, representing a total investment of $61 million. They will count with the financing of the Overseas Private Investment Corporation (OPIC), the financial development institution of the Government of the United States of America. 

 

Altogether, these projects provide great benefits to El Salvador, because they increase the diversification of the energetic matrix with its 43.62 MWdc of installed power and by replacing annually the equivalent of 118,500 megawatts hour (MWh) in thermic energy it will reduce the price of the wholesome market of electricity. Also, it will improve the trade balance of the country by replacing one portion of the imports of hydrocarbon with solar energy and will reduce the necessity of import of the most expensive electricity in comparison with the neighbor countries.

 

At an environmental level, these projects will assume a reduction of 29 thousand tons of annual emissions of carbon dioxide, supporting the achievement of the country´s environmental compromises at an international level.

 

The projects subscribed a tripartite agreement with the municipality of Acajutla and the Social Investment Fund for the Local Development (FISDL), who committed to donate the 3% of its incomes to finance local projects of health, education, infrastructure, electricity and water supply. 

 

The first donation will allow the construction of a communal house in the Alvarado colony, Acajutla, the bettering of its school center, its park and its soccer field.

 

Additionally, Real Infrastructure Capital Partners is about to initiate the construction of Sonsonate Solar, a project of 13 MWdc that was allocated to it in the International Public Bid DELSUR-CLP-RNV-1-2016.

 

Joined to its other projects in the area of Acajutla and the photovoltaic facility of San Juan Opico, Tecoluca and San Luis Talpa, the installed capacity of the administrated and developed projects by Real Infrastructure Capital Partners in El Salvador will reach, approximately, the 68 MWdc.

 

“We are proud of realizing these projects because they generated 450 working places during the construction, with the support of local institutions and our financing banks complying with the highest international standards of social and environmental management”, declared Juan Páez, partner director of Real Infrastructure Capital Partners.

 

Established in 2011, Real Infrastructure Capital Partners LLC is an independent firm with headquarters in U.S.A. that administrates the Latin Renewable Infrastructure Funds (LRIF), private capital funds, whose objective is to invest in renewable energy projects in Mexico, Latin America and the Caribbean. With a vast experience, superior to 90 years, in the energy sector, the team of Real has a proven history of successful investment in the development and acquisition of renewable technology projects in Latin America.

 

To know more information about the firm, visit: www.realinf.com.

 

Press contact: Sebastian Libkind  Esta dirección de correo electrónico está protegida contra spambots. Usted necesita tener Javascript activado para poder verla. .

 

To know more information about the services that PROESA offers to investors, call (503) 25927000, write to Esta dirección de correo electrónico está protegida contra spambots. Usted necesita tener Javascript activado para poder verla. or visit web www.proesa.gob.sv.

 

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March 14th of 2019

 

Actualizado 05/31/2019
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