Loans for Energy Saving Projects

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

Wednesday, March 28, 2012

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.

Anel de Chahín, administrator of BANDESAL’s development program, reported that to date they have granted $10.2 million in loans to 68 companies, according to Laprensagrafica.com. "This credit line finances investments for efficient use of resources such as energy, water, waste and investing in clean energy such as hydro, wind and solar power," said the executive.

One example of the use of the credit program is the Hotel Mirador Plaza. The hotel replaced its air conditioners and purchased software that can lock thermostats, among other measures. The financial manager of the firm, Ulises Alfaro, said the changes have led to savings of 40% in their electricity bill.

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