Neoen cuts ribbon on 140-MW solar complicated in El Salvador

• France's Neoen SA has officially opened its 140-MW Capella Solar photovoltaic or pv (PV) park in El Salvador, the French renewables programmer claimed today.

The complicated is comprised of 2 solar plants-- Albireo I as well as II-- both situated in the department of Usulutan. They were turned on at the start of April in order to meet a legal due date established under the project's power acquisition agreements (PPAs). Under 20-year off-take agreements, electrical power from the solar parks will be sold to neighborhood power circulation companies Delsur, AES, EDESAL and B&D at a rate of USD 49.55 (EUR 45.36) per MWh.

Funding for the USD-133-million Capella Solar was offered by IDB Group, Dutch development financial institution FMO and also France's Proparco. The ability was mounted by a tie-up of Spain's TSK and France-based Gensun.

Albireo Power Reserve, a lithium-ion battery with 3.3 MW/2.2 MWh of capacity that was additionally part of the Capella Solar project, was appointed in late February 2020.

The French independent power manufacturer (IPP) has actually existed in El Salvador considering that 2014. Capella is its 2nd solar ranch that comes into procedure after the 76-MW Providencia park that began injecting power into the national grid in April 2017.

Neoen El Salvador said back in February that, as soon as Capella Solar goes online, the business will certainly get to 7% market share in the nation's wholesale electricity market.