El Salvador positions itself as a benchmark for renewable energy in the region

The boost given to renewable sources and the different investments that will be made this year, the sector will close the year with a growth of more than 10%.

El Salvador continues to be a reference in renewable energy generation in the region, said the president of the Salvadoran Association of Industrialists (ASI), Jorge Arriza, during the inauguration of the eleventh edition of the Regional Energy Congress (Coren) 2024.

“In terms of energy, El Salvador is positioning itself very well because there is an important balance between hydroelectric and geothermal power, and thermal power plants that make it possible for us not to have any problems. The energy sector is being managed very well”, said the Salvadoran businessman.

He added that thanks to the impulse that renewable sources have had and the different investments that will be executed this year, the sector will close the year with a growth of more than 10%.

“I would expect that the energy sector could be growing above 10% at the end of the year. If we look at the figures of the Central Reserve Bank (BCR), the energy sector is growing around 10 %, similar to the growth of construction, which is one of the largest, as is tourism as well,” he explained.

Arriaza also reiterated, based on the statement of Daniel Alvarez, head of the General Directorate of Energy, Hydrocarbons and Mines (DGEHM), that an investment of around $3,000 million is foreseen for the next few years.

“The idea is to grow in the energy matrix, especially in renewables, which is what the country needs most. Currently, many investments have been made in the country. It is a dynamic sector, there are good investments and we believe it will continue to grow in the coming years,” he said.

For his part, Javier González, ASI’s energy manager, stated that El Salvador is currently positioned among the 20 countries that cover their demand with renewable energy with more than 70%, so “the diversification of the energy matrix is favorable”.

Renewable generation

Currently, hydroelectric generation represents 40% of the energy pie, geothermal 30%, followed by other renewables and bunker.

“That makes it a fairly diversified matrix and we can in the end not run risks like other countries in the region where there have been threats of rationing. In El Salvador this has not happened nor will it happen,” he said.

The union representative also highlighted the Metapán Wind Farm project, promoted by the Government, and affirmed that “we see it very well, it is innovative and will increase the energy matrix”.

Regarding the nuclear energy project promoted by the Government, he indicated that “we see the possibility that this will be developed in the medium term and it is an option that can be trusted. Several countries in Europe are reactivating their nuclear plants”, he commented.

Source: Diario El Salvador