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.
In order for Pacific Energy to start building the natural gas plant at Acajutla port, El Salvador, the Congress must approve a concession law designed specifically for that project.
The concession granted to Energía del Pacifico (EDP) to supply 355 MW of energy generated from natural gas must first have its own concession law, which must be approved by the Legislative Assembly.
The International Finance Corporation will provide $150 million for the construction of a project to construct an electricity generation plant based on natural gas in the province of Colón.
This new loan is in addition to the syndicated loan in which Banistmo, Bancolombia, Banco Centroamericano de Integración Económica Banco General and Global Bank, announced in May 2016.
A design has been presented for a power generating plant of 355 MW based on natural gas to be constructed in Acajutla and which will begin operating in 2018.
The project, to be developed in Acajutla, Sonsonate department also includes the construction of a floating storage tank, another ground storage tank, a spring, a generating power plant and associated transmission line.
Like the entire private sector, the Association of Free Zones of Costa Rica is complaining about the high cost of electricity and lack of concrete actions to resolve the situation.
Before considering Petrocaribe, companies operating under this regime in Costa Rica are suggesting a further diversification of the energy matrix in order to lower costs.