El Salvador: $20 million for Energy efficiency

The Inter-American Development Bank has granted a loan that will be used to finance energy efficiency projects for small and medium-sized companies.

Friday, July 27, 2018

The funds for this loan come from the Green Climate Fund (GCF) and will be executed by the Development Bank of El Salvador (BANDESAL).  The objective of the financing granted is to support the efforts being made by SMEs in El Salvador to reduce electricity consumption and limit greenhouse gas emissions, reported the Inter-American Development Bank (IDB). 

See also "Central America: $1.6 billion in energy projects"

The statement reports that " ... This loan will benefit SMEs in all sectors of the economy that have no or limited access to long-term credit, which is essential for investing in energy efficiency.  It is estimated that the program, BANDESAL's first line of credit exclusively dedicated to promoting investments in energy efficiency, could support 494 SMEs." 

The document adds that " ... El Salvador is promoting energy efficiency and supporting renewable energies as a way of implementing a low carbon economy, alleviating national dependence on petroleum derivatives and mitigating greenhouse gas emissions."

The IDB financing has a term of 20 years, with a grace period of 5.5 years and a fixed interest rate of 0.75. 

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Energy Efficiency Trust for $70 million

November 2017

A bill is being prepared in El Salvador to reduce energy consumption in public entities, through replacement of equipment and new infrastructure.

At the beginning of next year, the Salvadoran Energy Council will be presenting a bill to the National Assembly, which will represent an investment of $70 million. 

Loans for Energy Saving Projects

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The Development Bank of El Salvador has a credit line for replacing equipment with more efficient technology in terms of energy consumption.

The Development Bank of El Salvador (BANDESAL) has $17 million available in a credit line to grant to companies who opt to renew their equipment and use technologies which lead to energy savings.

Efficiency in Industrial Energy Use

September 2010

Conference and negotiations to be held in Costa Rica with Dutch companies seek clean and renewable energy solutions as well as energy efficiency.

Companies from the Netherlands will visit Costa Rica to implement energy efficiency and renewable energy initiatives.

The need to ensure industry sustainability means searching for alternative sources of energy and its efficient use in order to stay competitive.

$1.2 million for Guatemala and El Salvador for electricity projects

November 2008

The IDB granted $660,000 to El Salvador and $600,000 to Guatemala to be managed by the Sustainable Energy and Climate Change Fund Initiative (Secci).

The Government of Guatemala will invest this money to develop an Integral Energy Efficiency Plan to reduce consumption and improve the use of electric energy in the country.

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