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The Legislative Assembly authorized the Government of El Salvador, through the Ministry of Finance, to sign a loan agreement with the Kuwait Fund for Arab Economic Development for up to US$9.6 million. These funds will be used to install a photovoltaic solar power plant in the district of San Matías, in the municipality of La Libertad Norte.
The approval was supported by 56 votes during the 113th plenary session. According to the legislators, the loan amounts to 3 million Kuwaiti dinars, equivalent to US$9,689,609.51.
The project includes the construction of a photovoltaic solar plant that will contribute to expanding the country’s installed renewable energy generation capacity and will help meet national electricity demand, especially during the dry season, by reducing dependence on hydroelectric generation.
The initiative includes the installation of ground-mounted photovoltaic panels, inverter stations, a substation with two transformers, interconnection to the national power grid, access roads, and the buildings necessary for the plant’s control and operation.
As approved, the financing will have a term of up to 25 years, including a three-year grace period.
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