Neoen, the world leader in renewable energy, has consolidated its presence and long-term investment in El Salvador with the operation of its second photovoltaic park, called Albireo, which is managed by its company Capella Solar. Albireo started its contracts for the injection of energy into the country's electricity grid on April 1, 2020, fully complying with its commitments.
The project was awarded with 20-year power purchase contracts - with local distributors AES, Delsur, EDESAL and B&D - at an average price of $ 49.55 / MWh in 2017. Albireo supplies 4% of the energy in the wholesale market Salvadoran, which is equivalent to the annual consumption of 255,000 average households. Together with the two predecessor solar projects whose development began in 2014, Neoen's contribution amounts to 7% of energy in this market, totaling a capacity of 241 MWp, which will avoid the emission of 250 thousand tons of carbon dioxide during the year 2020.
The main financing for the development of Albireo was obtained from the IDB Invest bank, the Dutch Development Bank FMO and the French Development Bank PROPARCO. The total investment amounted to USD 133 million. Albireo was built by a consortium formed by the Spanish TSK and the French Gensun, who have accompanied Neoen in its projects in El Salvador.
In addition, this project contains the largest energy storage infrastructure in Central America, called Albireo Power Reserve, a lithium-ion battery with a capacity of 3.3 MW / 2.2 MWh. Its operation, which began on February 27, regulates the frequency of the network with high precision. Albireo Power Reserve is a relevant technology transfer for the El Salvador electricity sector that was conceptualized in collaboration with the Transactions Unit (UT).
During her speech at the visit to Capella Solar, the Minister of Economy, Mrs. María Luisa Hayem Brevé, stated: “The Albireo solar park is part of the projects that add up to the US $ 1.3 billion in renewable energy investment that have been completed in the 16 months that we have been in charge of El Salvador, and it is a clear example of the confidence that national and international businessmen have to invest in our country thanks to the clear rules that we have. These types of projects generate employment, development and social welfare for Salvadoran families."
