Hydroelectric plant in El Salvador will cost $1.1 billion

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

Monday, August 18, 2008

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.
The rise in price of oil and its derivatives has also added to this, while at the same time causing the cost of supplies and shipping to increase.

More on this topic

$800 Million for Salvadoran Hydroelectric

June 2009

The Government of South Korea pledged $800 million to finance El Cimarrón hydroelectric dam.

The chairman of the Executive Committee of the Lempa River Hydroelectric (CEL), Nicolás Salume, announced that a study will be done regarding the financing structure offered since there are other countries interested in investing such as Mexico, Italy, Spain and Brazil.

Panama: Hydroelectric Projects Exceed $1.35 Billion

April 2009

The 15 hydroelectric projects currently under construction in Panama have a value of $1.35 billion, and they will increase the installed capacity by 600 kilowatts.

As reported by the Authority of Public Services (ASEP), the majority of the projects are being developed in Chiriquí and Bocas del Toro, on rivers with large flow.

$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.

$150 Million to Expand Salvadoran Hydroelectric

April 2009

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

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.

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