The Central American nation of El Salvador has emerged as a regional trailblazer in harnessing the power of renewable energies, particularly geothermal and hydroelectric sources. Andrés Rebolledo, the Executive Secretary of the Latin American Energy Organization (OLADE), lauded the country’s achievements in transitioning towards decarbonization.
Rebolledo commended El Salvador’s long-standing dedication to renewable energy technologies, noting that the nation’s expertise in geothermal energy, which has been in practice for several decades, has garnered international recognition. “El Salvador has been intensively committed to advancing renewable energy technologies for many years, particularly in the field of geothermal energy. This technology not only boasts a rich history here but also enjoys a significant global presence,” Rebolledo stated.
Furthermore, Rebolledo emphasized that the utilization of these innovative technologies and the nation’s active engagement in the energy sector have granted El Salvador a distinct competitive advantage. This advantage, he stressed, propels the country forward in its progressive efforts to curtail carbon emissions into the atmosphere.
“The path towards achieving Net Zero by 2050 requires significant efforts in our countries in terms of transforming our energy matrices. El Salvador’s active involvement positions it advantageously in this endeavor,” Rebolledo affirmed.
Rebolledo, speaking on behalf of OLADE, outlined several key factors that will shape this transformation. These include a heightened reliance on renewable sources of electrical energy, the integration of diverse energy storage methods, the electrification of everyday consumption and transportation, as well as industrial processes.
While the costs associated with these technologies and the level of investment required by each country may vary, Rebolledo estimated a regional investment of $300 billion by 2030 to achieve these goals.
“This transformation demands a consistent investment effort. Our calculations at OLADE indicate that, in order to achieve the necessary conditions by 2050, an estimated $300 billion will be required in the region by 2030,” Rebolledo pointed out.
Additionally, Rebolledo highlighted the regional initiative known as RELAC (Renewables in Latin America and the Caribbean), which boasts 15 member countries, including El Salvador. The primary objective of RELAC is to attain a minimum of 70% renewable energy participation in the regional electricity matrix by 2030.
As El Salvador continues to lead by example, its strategic investments in renewable energy technologies not only solidify its role as a regional influencer but also pave the way for a more sustainable and cleaner energy future.