Electricity: New Investments Announced

In El Salvador during 2021, AES announced that it plans to invest between $60 and $75 million in the development of new solar energy projects and works in the distribution network.

Thursday, April 8, 2021

The company already has investments in the country. In October 2019 CentralAmericaData reported that the companies AES and Corporacion Multi Inversiones had inaugurated in the municipality of Guazapa, a solar power plant with a generation capacity of 10 megawatts.

You may be interested in "Energy investments for $1.2 billion"

The firm also controls Compania de Alumbrado Electrico de San Salvador (CAESS), Empresa Electrica de Oriente (EEO), Compania de Luz Electrica de Santa Ana (CLESA) and Distribuidora Electrica de Usulutan (Deusem).

By 2021 the company plans to invest in the electricity market. Abraham Bichara, executive president of AES El Salvador, told Elmundo.sv that "... this year the company intends to inject between $60 million and $75 million into the economy in different investment projects, a good part of the funds focused on the development of new solar generation projects."

Regarding the outlook for the sector, Bichara specified that "... last year the demand had a 5% drop and that the sector projects that there will not be a demand like that of 2019 (before the pandemic) until 2023, but they do anticipate a rebound of between 3% and 4%, close to the forecast of recovery of the local economy prepared by the International Monetary Fund."

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