OPIC makes initial disbursement in El Salvador solar project
OPIC has made its initial disbursement in the Bosforo solar project in El Salvador, which will add a total of 100 MW of power across ten individual solar plants. The project, which is being built by AES Corporation of Arlington, Virginia and Corporación Multi Inversiones of Guatemala, will help El Salvador meet growing power demands and reduce its dependence on imported fuel.
OPIC will provide $29.5 million in financing over the course of the project, which will mobilize $160 million in capital.
“It’s a testament to the critical role private capital plays in advancing development,” said OPIC Vice President Ryan Brennan. “Major infrastructure projects are big, complex undertakings that require large investments of time and large investments of money.”