El Salvador: $10 Million More for Wind Farm

Banco Cuscatlán approved a $10 million loan for the construction of part of the Ventus wind farm, which will have a capacity of 54 MW and will be in the municipality of Metapán.

Thursday, August 29, 2019

The $10 million approved by Banco Cuscatlán for the construction of the wind farm will be added to the $43 million that Banco Agromercantil de Guatemala authorized in early July.

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José Eduardo Luna, executive director of Banco Cuscatlán, explained to Elmundo.sv that "... This project is extremely important for the country, since it not only represents an increase in installed generation capacity to meet growing demand, but also diversifies the energy matrix, incorporating a new source of renewable generation, such as wind'."

Luna added that "... as part of the financial institution's business approach, several generation projects of different scales are being financially analyzed, all making use of renewable resources."

The project consists of the construction of a clean energy generation plant from the wind, the first of its kind in the neighboring country, which will be located in the Municipality of Metapán, Department of Santa Ana. The energy complex called "Ventus Wind Farm" will have the capacity to generate 54 megawatts.

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More on this topic

Wind Energy: Wind Farm to Start Operations

April 2021

As of April 2021, the Ventus wind power plant, an electricity generation park with an installed capacity of 54 MW, will begin operating in El Salvador.

The new power generation park, which has 15 wind turbines of 120 meters high each, is located in the municipality of Metapan, Department of Santa Ana.

El Salvador: $43 Million for Wind Farm

July 2019

Banco Agromercantil de Guatemala announced a $43 million loan for the construction of part of the 54 MW Ventus wind farm to be located in the municipality of Metapán.

It was reported in February that the Guatemalan and Honduran capital company, Ventus, will invest $73 million over 10 years in the construction of a wind farm with a capacity of 54 MW, and that the tax benefits to be granted to it in El Salvador resulted from the signing of a Legal Stability contract for Investments.

Panama: $300 million for Wind Farm

December 2014

The World Bank has approved a loan of $300 million for the construction of the second and third stages of the Penonomé wind farm, which will have a capacity of 215 MW.

From a statement issued by the International Finance Corporation (IFC):

IFC, a member of the World Bank Group, has completed a financing package of $300 million for the construction of Phase II and III of the Penonomé Wind Farm, the largest wind project in Central America. Once operational, it is expected that 86 wind turbines with a total installed capacity of 215MW, will generate 448 GWh of energy per year, which is equivalent to approximately 5% of the country's total energy demand of the country. Phase II and III were mostly acquired by Interenergy Holdings, a private company with significant presence in the energy sector in the region and a majority shareholder of UEP Penonomé II, SA, a company created to operate this project in Panama.

Honduras : $127 million For Wind Project

February 2014

The delayed construction of the wind power project to generate 50 MW in San Marcos will be funded by international banks.

The Dutch Development Bank (FMO) announced that five international financial institutions have provided loans for $127.5 million to finance a 50 MW wind power project in San Marcos.

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