Invenergy Closes El Salvador Gas to Power Financing
Energia del Pacifico (EDP), led by US-based Invenergy, said December 23 it had closed financing for a US$1bn LNG-to-power project currently under construction in the Central American country of El Salvador. It’s the largest ever private investment in the country.
“Energia del Pacífico is a transformational project for El Salvador and the entire region – a shining example of the enormous opportunity that can be created, despite prior obstacles, when private initiatives have strong government support,” Invenergy founder and CEO Michael Polsky said.
The EDP project is comprised of a 378-MW natural gas-fired power plant, a floating storage and regasification unit (FSRU) and a 44-km electric transmission line that will connect to El Salvador’s Central American Electrical Interconnection System. The project is expected to be operational by the end of 2021.
EDP is being developed by Invenergy with its El Salvador partners, Grupo Calleja, VC Energy de Centroamerica and Quantum Energy.
Anglo-Dutch major Shell will supply the LNG, which will be regasified at a FSRU permanently moored offshore near the Port of Acajutla. Gas will be delivered to the power plant through a sub-sea pipeline to be engineered and built by maritime infrastructure contractor Boskalis.