El Salvador signs contracts for four solar projects

El Salvador’s power distributors have this week signed contracts for the winning projects in the country’s renewable energy auction, which was held by the government in January. Among the projects are four solar plants with a combined capacity of 119.9 megawatts.

The auction ended with an average price of $51.48 per megawatt/hour. This is the lowest price registered to date for similar projects in power auctions in Latin America. In the tender, El Salvador’s authorities also awarded a contract to a 50 megawatt wind project, which will sell power at $98.78 per megawatt/hour.

Projects selected in the auction will be granted a 20-year power purchase agreement. Overall, 29 bids with a combined capacity of 1.04 gigawatts were submitted for the auction.

Source: pv-magazine