IDB Invest, a member of the IDB Group, has granted two long-term loans to the Capella Solar and Providencia Solar projects operated by Neoen, one of the most dynamic renewable energy producers in the world. The resources will be used to finance two new energy storage batteries for the aforementioned projects and to refinance the existing battery installed in Capella.
The deals will improve the stability and safety of the Salvadoran electricity grid, adding 11 MW / 8 MWh in two energy storage batteries providing regulated primary and secondary reserve services at the Capella Solar (140 MWp) and Providencia Solar (101 MWp) projects, located in the departments of Usulután and La Paz, respectively. With these new additions, Neoen’s batteries in El Salvador will reach a total power of 14 MW and a storage capacity of 10 MWh, making it the largest group of energy storage batteries in Central America.
