La Geo has announced its currently finalising plans to expand two geothermal power plants in San Vicente and Chinameca in El Salvador within the next four years.
The company is hoping to secure further financing from the World Bank.
This project and talks of financing with the World Bank were initiated over three years ago. The President of La Geo, Mynor Gil, said planning for the project was in its last stages, and they expect to have a concrete and finalised project by the end of the year.
Expanding the two geothermal power plants would add 80MW to La Geo’s current geothermal capacity. This expansion would require a USD 232 million investment.
“Geothermal energy is cost-effective, it provides energy 24 hours a day, seven days a week regardless of weather conditions, without depending on oil imports, whether it rains or does not rain, that is what makes geothermal energy generation beautiful, enigmatic and interesting,” added Mr. Gil.