A German company invested $24 million in a new photovoltaic plant for El Salvador

The security climate that El Salvador has has motivated German investors to start the construction of a photovoltaic plant with an installed capacity to generate 21 megawatts of renewable energy power that will supply 20,000 Salvadoran homes.

The Santa Rosa Villa Sol photovoltaic plant has begun its earthwork work in Quezaltepeque, La Libertad. The company MPC Energy Solutions reported that the placement of 34,000 solar panels with the capacity to generate 50 gigawatts per year will begin in three weeks.

Víctor Atehortua, manager in charge of the plant, reported that, with the construction work and placement of equipment, an investment of $24 million will be made and will allow the employment of up to 150 people during the construction stage.

The photovoltaic plant will start operating in November this year and will have a useful life of 25 years.

“As foreign investors, we feel that there is a good security environment to do business in El Salvador. I am satisfied with the government, which has supported us from the beginning of our efforts. We have had good responses from all entities,” said Atehortua.

The businessman stressed that the Territorial Control Plan is giving good results and is an incentive for more foreign investors to come and set up operations in the country.

To follow up on investment projects, this week the president of the Export and Investment Promotion Agency of El Salvador (Proesa), Salvador Gómez Góchez, and investment specialists toured the plant.

On said tour, the authorities of Proesa participated in the reforestation campaign by planting 2,000 trees as part of the social responsibility of the German company towards the community of the area. The plant has also contributed to infrastructure improvements at the Santa Rosa community school in Quezaltepeque.

Gómez Góchez assured the government that German investment in the energy sector will contribute to economic development and diversify the national energy matrix.

“From Proesa, we are committed to accompanying the establishment of investments on a national scale, since these are sources of employment within the territories where the projects operate,” the official stressed.

Proesa reported that photovoltaic energy is part of the government’s strategic commitments to diversify the generation of energy components with greater supply opportunities in the market, and that translates into benefits for the population.

According to the statistics of the National Energy Council (CNE), photovoltaic energy supplies 9.3% of the national energy matrix, with a view to increasing its energy capacity.