$150 Million to Expand Salvadoran Hydroelectric

Tenders for the project to double the capacity of the "5 de Noviembre” hydroelectric will begin in 2010.

Monday, April 20, 2009

The Río Lempa Hydroelectric Executive Committee (CEL) is currently reviewing the feasibility study and it expects to complete this stage in June or July of this year. The tender for the project would be for 2010. They believe that the expansion work will take 3 years and cost $150 million.

According to Laprensagrafica.com, CEL project coordinator Jaime Contreras, said that they will begin the search for funding, which could come in two ways next year: It could be done with the CEL's own funds and a new loan from the Central American Economic Integration Bank (BCIE), which has already earmarked $162 million for the construction of the El Chaparral hydroelectric plant."

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$35.5 million for Salvadoran Hydroelectric

April 2009

BCIE conducted the first disbursement of $35.5 million for the El Chaparral hydroelectric project.

As part of a $163 million loan to build the El Chaparral hydroelectric, the Central American Bank for Economic Integration (BCIE) will disburse the first $35.5 million on Thursday, April 23.

El Chaparral Dam Project to Initiate in March

February 2009

The BCIE will deliver $31.5 million in March, as an advance for a loan of $162 million, for the start of the construction of the dam El Chaparral.

La Prensa Grafica publishes in its website: "The project will cost $219 million, of which BCIE will contribute 74%, that is to say, $163 million. The remainder $56 million will come from the CEL. The BCIE loan has a time period of 20 years, with an annual interest rate of 6.5%.

Works on the Central Hydroelectric plant begin in El Salvador

September 2008

President Elias Antonio Saca will place the first stone for the El Chaparral central hydroelectric plant that will mark the formal start of construction.

The initial investment, estimated to be $163 million, will be financed by the Central American Bank for Economic Intergration, as was recently confirmed by the president of the Rio Lempa Hydroelectric Executive Commission (CEL), Nicolas Salume.

Hydroelectric plant in El Salvador will cost $1.1 billion

August 2008

The estimate investment to build the El Cimarron hydroelectric dam has increased to $1.1 billion.

The president of the Rio Lempa Hydroelectric Executive Commission (CEL), Nicolás Salume, indicated that the increase in costs is because the project has been in planning for more than 10 years and that, because construction materials are now more expensive, the initial investment (which was at $450 million) has now tripled.

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