El Salvador will increase investment in renewable energy in 2023

One of the strategic bets in the administration of President Nayib Bukele is energy from renewable sources because it brings many benefits: a more stable rate for households, respect for nature, innovation, employment, and competitiveness as a country.

In this sense, the Lempa River Hydroelectric Executive Commission (CEL) is the state company in charge of producing energy with these sources, promoting its use in the country, and seeking to promote new renewable projects.

For this reason, the autonomous system has programmed a budget of $428.4 million for next year, equivalent to an increase of approximately 6% compared to what was requested in 2021.

According to CEL’s president, Daniel lvarez, this variation is due to the fact that the government’s new 3 de Febrero Hydroelectric Plant, with a capacity of 67 megawatts, will be operational next year in Carolina, San Miguel.

After almost 40 years, a new hydroelectric dam will begin operations in the country. In the past, Salvadorans did not have these projects, which seek social, environmental, and economic well-being.

Since the arrival of this government, the deficiencies accumulated by previous governments have been corrected, mainly the expediting to execute February 3, and now this work is about to open operations.

In the planning of CEL’s expenses for the next year, the investment and pre-investment will require $131.8 million (30.7%) of the total. Among the activities are new constructions, for example, Talnique Solar, the first photovoltaic plant in public administration. Another case is the monitoring of the biogas plant on the Acelhuate River, which will mark a milestone in energy investments.

In addition, it is planned to allocate $149.9 million (34.9%) for production and commercialization, that is, the ordinary activities of the company, with which it provides at least half of the national energy supply.

$74 million (17.3%) has also been budgeted to maintain the good practices that have led to historically high results in their work and, finally, $73.2 million (17.1%) to punctually meet financial obligations.