$35.5 million for Salvadoran Hydroelectric

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

Tuesday, April 21, 2009

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.

According to La Prensa Grafica of El Salvador, Jaime Contreras, project coordinator of the Executive Committee of the Rio Lempa hydroelectric (CEL), said: "Progress in the project is 5%. That’s what we have at this time. We are finalizing camp installation, workshops and roads, which we have improved by 50%, but it is more than 40 kilometers of roads that need improvement to facilitate the access of the machinery."

The El Chaparral Project, which has a total cost of $220 million, is the first hydroelectric plant being built in El Salvador after more than three decades.

More on this topic

El Chaparral Hydro Power Plant in 2013

August 2009

The president of CEL announced that the project is going according to schedule, and will be ready in January 2013.

Nicolás Salume, president of the Executive Hydroelectric Commission of the Lempa River (CEL), added that January 3rd, 2013, is the deadline for the builder to deliver the project.

$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.

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.

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