Proparco signs financing for solar plant in El Salvador

Subscribe to our newsletter and get the latest news and business opportunities in your inbox
Proparco signs financing for solar plant in El Salvador

Proparco, and ICC (Inter-American Investment Corporation), have signed an agreement for the construction and operation of a photovoltaic power plant in El Salvador.

This project combines the expertise of France’s Neoen , El Salvador’s Almaval and Spain’s manufacturer TSK via a joint venture.

The loan agreement for the Providencia Solar has a value of US$30 million.

The total project cost is estimated at US$150 million, with US$30 million of financing from PROPARCO, including a US$ 12 million AFD subparticipation, US$57.7 million from the Inter-American Development Bank (IDB) and US$30 million from the Canadian Climate Fund syndicated by IDB.

With a total capacity of 100 MWp, the new Providencia Solar power plant will supply electricity equivalent to the annual consumption of 176,000 inhabitants. It will comprise two substations: Antares, a 75 MWp plant, and Spica, a 25 MWp plant. Its commissioning is scheduled for May 2017.

Share this news

Join us

In order to get full access to News section, you must have a full subscription. You can check all the benefits of becoming a member and purchase a subscription on our membership page.