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The Ministry of Finance highlighted the approximately US$9.7 million in financing granted by the Kuwait Fund for Arab Economic Development (KFAED) for the construction of a photovoltaic solar plant in the district of San Matías, La Libertad. The project is part of a national strategy to strengthen energy security and support the country’s economic growth.
During the signing of the agreement, Finance Minister Jerson Posada stated that the plant’s installation reflects a national vision aimed at diversifying the electricity generation matrix and creating better conditions for economic growth. The minister emphasized that having new sources of generation will allow progress toward an energy system with greater capacity to meet future needs.
The US$9.7 million in financing will be allocated to different components of the project, including the construction of access roads, site preparation, installation of photovoltaic modules and transformer stations, as well as the necessary infrastructure to integrate the energy produced into the national electricity grid.
Posada also emphasized that the transition to cleaner energy sources represents a strategic decision that goes beyond the environmental component. He explained that expanding renewable energy generation contributes to strengthening the country’s productive capacity and preparing it for the energy needs that will accompany its economic development.
The solar plant will increase generation from a renewable source and help reduce dependence on certain conventional sources. For the Ministry of Finance, these types of investments are part of the necessary actions to have an energy infrastructure capable of supporting economic activity and growing demand.
The agreement with KFAED also represents the first cooperation instrument of this nature between El Salvador and the Kuwait Fund. The Arab organization indicated that the project marks the beginning of a cooperative relationship for development based on shared objectives of sustainable growth.
Thus, the US$9.7 million allocated to the San Matías project represents an investment in energy infrastructure that, from the Ministry of Finance’s perspective, seeks to strengthen energy security, expand renewable sources, and create better conditions for El Salvador’s economic development.
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