Who invested in the El Salvador energy storage project

4 FAQs about [Who invested in the El Salvador energy storage project ]

How much money is invested in El Salvador?

In total, the project represents an approximately $1 billion investment in El Salvador. At least $10 million will be invested in economic and social works during the term of the power purchase agreements, strengthening local communities with a more than $500,000 investment per year.

Who financed El Salvador''s infrastructure project?

The more than $1 billion transformative infrastructure project, the largest-ever private investment in El Salvador, was financed by leading global financial institutions U.S. International Development Finance Corporation, International Finance Corporation, IDB Invest, Finnish Export Credit Ltd and KfW IPEX-Bank.

Why is El Salvador completing EDP?

The completion of EDP is a major uplift in electric reliability and lower emissions through natural gas supply to the Central American region. The project represents the country''s largest ever private foreign direct investment and is providing clean and reliable power to meet up to 30% of El Salvador''s energy demand.

When did El Salvador''s EDP power plant start operating?

Despite the enormous challenges, including supply-chain disruptions, travel restrictions, airport closures, global financial volatility, and Salvadoran COVID-19 mitigation measures and regulations, the power plant began commercial operation in October 2022. EDP is a transformative investment in El Salvador’s clean energy future.

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