El Salvador clinches finance for solar plant

French renewable energy company Neoen has secured a syndicated credit facility for its 140-MWp Capella solar project in El Salvador, thus reaching financial close on the scheme.
The senior loan is being provided by Dutch development bank FMO, IDB Invest, the private sector arm of the Inter-American Development Bank, and French development finance institution Proparco. The Capella solar park, Neoen’s second project in El Salvador, is planned to become operational at the start of 2020. A tie-up comprising TSK of Spain and France-based Gensun will take care of the plant’s construction, while the energy storage system will be installed by Japan's Nidec.