El Salvador to solicit bids for renewable energy

El Salvador will solicit bids for 40 megawatts of wind farms and 60 megawatts of solar parks in November as the Central American nation seeks to diversify its energy supply from fossil fuels.

Developers will compete for contracts to sell electricity for 20 years to local distributors and winners will be announced as soon as May 20, according to the country’s National Energy Council.

El Salvador is seeking to cut its dependence on oil and diesel, which were used to run about 47 percent of its grid’s generation capacity in 2011, said Bloomberg analyst Yayoi Sakine.

Source: Bloomberg