The president of the Central Reserve Bank (BCR), Douglas Rodríguez, indicated yesterday that El Salvador went from being an energy-importing country to exporting $33 million between January and August of 2022.
“We have exported $33 million in energy that is no longer used in the country but is supplied to other countries. We have always depended on Honduras and Nicaragua,” said the official.
According to data from the BCR, the energy sector reported a growth of 15.3% in the second quarter of 2022 and is part of 15 of the 19 economic activities that make up the Gross Domestic Product (GDP) of El Salvador that reported growth in this year-on-year period.
“El Salvador has never been able to generate energy to satisfy its own demand. It has diversified the energy matrix, and we no longer only depend on hydroelectric plants; now we depend on geothermal, wind, photovoltaic, natural gas, and that is positioning us as a country dynamic, developing, and with a favorable economic environment”, highlighted Douglas Rodríguez.
This rebound, according to the official, is due to the start of operation of the Liquefied Natural Gas (LNG) plant, located in the port of Acajutla, and due to a very cold winter that has allowed the hydroelectric plants to have more activity to generate more energy. and the entry into the energy matrix of renewable energy parks.
In this regard, Daniel lvarez, president of CEL, stated that El Salvador’s energy is less expensive and is exported to neighboring countries such as Guatemala.”We have the capacity to complete the energy matrix, including exporting energy to neighboring countries like Guatemala. Our energy is the cheapest in the region,”
In addition, the official assured that the CEL is focusing on cheaper energy sources compared to oil. “We are focusing on finding more renewable energy sources to ensure long-term power generation,” he said.
Álvarez, on the other hand, stated that the CEL will put into operation the 3 de Febrero Hydroelectric Power Plant in the country’s east by the end of this year, “a plant that has the capacity to generate energy both in the dry season and in the winter.” In addition, he added that the state company is evaluating the possibility of expanding and having more turbines in the 15 de Septiembre Hydroelectric Plant, an expansion plan that is under study with the support of the World Bank (WB) and the Inter-American Development Bank (IDB).