Financing for 378 MW Gas Plant

The U.S. government approved up to $350 million to finance part of the construction of the liquefied natural gas (LNG) power generation plant EDP in Acajutla, El Salvador.

Thursday, March 21, 2019

The U.S. government, through the Overseas Private Investment Corporation (OPIC), approved the financing on March 20, 2019, according to the U.S. Embassy in El Salvador.

See "378 MW Gas Plant Project Goes Ahead"

"Vice President and Director of OPIC's Northern Triangle Initiative, Ryan Brennan, said: 'Investment creates jobs and opportunities and is one of the most effective tools for producing stability,'" explains the diplomatic headquarters statement.

The document states that the Pacific Thermal Power Plant (EDP) is a joint effort of the U.S. company InvEnergy and the Salvadoran firm Quantum, among other private investors. The project has an estimated total investment of $877 million, the largest foreign direct investment in El Salvador.

Also see "Central America: $1.6 billion in Energy Projects"

The statement concludes that "... In a meeting with President-elect Nayib Bukele last week, OPIC leaders pledged to facilitate greater investment in El Salvador to improve lives and strengthen the economy."

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378 MW Gas Plant Project Goes Ahead

June 2018

In El Salvador, Energía del Pacifico has announced that it has met the requirements to obtain financing, and that it will start construction of the plant in the third quarter of the year.

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