Financing for 100 MW Solar Plant

The IIC has structured financing of the first commercial solar plant in El Salvador owned by the French company Neoen SAS of the Louis Dreyfus Group.

From a statement issued by the IDB:

IIC finances the first solar photovoltaic power plant in El Salvador

The Inter-American Investment Corporation (IIC), acting on behalf of the Inter-American Development Bank (IDB), has joined forces with Providencia Solar SA to finance the construction of the first photovoltaic power plant on a commercial scale in El Salvador.

The project will diversify the country's energy matrix, contributing 100 MWp of renewable energy. Providencia Solar transports an average of 163,800 MWh of thermal power generation per year, avoiding the annual emission of an average equivilent to 114,500 tons of CO2. The project will also promote the social and economic development of the surrounding communities. Given that the sponsor will allocate 3 percent of revenue generated to high-priority social investments.