El Salvador announces new investment fund in renewable energy
The Hydroelectric Executive Commission of the Lempa River (CEL) will create a renewable energy fund to obtain resources for investment.
Thursday, June 12, 2008
CEL president Nicolás Salume says the project could bring in 300 million dollars by year-end, although the financial model is still being developed.
As part of a plan to diversify the energy matrix, the regulatory body will invest $400 million in renewable energy projects.
The photovoltaic electricity generation project developed by CEL confirms the great potential for solar energy production in the country.
Measures oblige firms to have liquid assets ready to meet obligations.
El Salvador announced a renewable energy investment plan which will increase the share of this type of power to 70% of the energy matrix.
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