July 25, 2014 - SolarReserve today announced that it signed a supply contract for its 20MW Acajutla PV solar power project in El Salvador as part of a highly competitive tender solicitation by the local electric distribution companies. The tender was administered by Distribuidora de Electricidad del Sur ("DELSUR"), and was overseen by El Salvador's Electricity and Telecommunications regulatory body Superintendencia General de Electricidad y Telecomunicaciones ("SIGET").
The Acajutla project is the first of several in SolarReserve's pipeline of 800MW of solar power projects in development in Latin America.
"Many Latin American countries, including El Salvador, have experience with renewable energy such as geothermal or hydroelectric. As demand for electricity continues to grow, Latin America represents a great opportunity for solar power development," said Kevin Smith, SolarReserve's CEO. "With the region's excellent solar resource and escalating and uncertain prices of fossil fuels, solar power makes more than just environmental sense – it makes economic sense. We look forward to continuing our work on Acajutla and on our other photovoltaic and solar thermal projects in development in Latin America."