US-based developer of utility-scale solar power projects SolarReserve has signed a supply contract for its 20MW Acajutla photovoltaic (PV) power project in El Salvador.
The contract was signed as part of a tender solicitation by the local electric distribution companies.
Distribuidora de Electricidad del Sur (DELSUR) has administered the tender, while El Salvador’s Electricity and Telecommunications regulatory body Superintendencia General de Electricidad y Telecomunicaciones (SIGET) has overseen it.
SolarReserve stated that the Acajutla project is the first of several in SolarReserve’s pipeline of 800MW of solar power projects in development in Latin America, which includes advanced solar thermal technology (CSP), photovoltaic (PV) technology, and hybrid (combined CSP and PV) solutions that can provide competitive 24-hour solar energy.
SolarReserve CEO Kevin Smith said: "Many Latin American countries, including El Salvador, have experience with renewable energy such as geothermal or hydroelectric. As demand for electricity continues to grow, Latin America represents a great opportunity for solar power development.
"With the region’s excellent solar resource and escalating and uncertain prices of fossil fuels, solar power makes more than just environmental sense – it makes economic sense."