El Salvador to expect multimillion-dollar investments in energy development

Investments in El Salvador’s energy sector are expected to increase significantly following Banco Agromercantil’s (BAM) announcement that it would finance a US$42.75m wind energy project, and Grupo Dueña’s projected investment of US$250m-US$300m to build a power plant. BAM, a financial services entity belonging to the Grupo Bancolombia, announced that it will be a leading agent and co-financer of the 54MW Ventus, S.A project; the first wind farm in El Salvador. Ventus will be located in the municipality of Metapán, department of Santa Ana, in the west of El Salvador, and is set to generate enough electricity to meet the energy demand of approximately 80,000 families. As for the Salvadoran capital firm Grupo Dueñas, it has announced that it will invest between US$250m and US$300m to build a power plant, with a 110MW capacity. The plant will be built in the Acajutla area, in the west of El Salvador.

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