El Salvador will begin construction on the Country’s first utility-scale PV project – a power station with funding from the IDB and the Canadian Climate Fund for the Private Sector in the Americas. A total US$87.8 million has been granted for the construction, operation and maintenance of the 100-MW Providencia Solar power plant in El Salvador.
The IDB has approved a USD-57.7-million loan from its ordinary capital and the Climate Fund has pledged USD-30-million for the project. The PV facility is majority owned by French independent renewable energy producer Neoen SAS and will be implemented near the Monsenor Oscar Arnulfo Romero International Airport outside the capital city of San Salvador. The plant will be able to feed 170 GWh of electricity per year into the national grid. During its lifespan, about USD 7 million will be allocated to finance high priority social investments in the Municipality of El Rosario/La Paz, explained a release from the IDB.
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