SolEnergy Farms, together with Perfect Energy and Solar Horizon, will invest $150m in solar energy, with the aim of producing 60 MW in El Salvador.

Initially, $35m will be invested in a 10 MW solar photovoltaic (PV) plant in the municipality of Tecoluca, in the central department of San Vicente.

Work on the project is expected to start in January next year.

Guillermo Buitrago, SolEnergy Farms’ deputy chairman, told El Diario de Hoy that the company had signed a long-term contract with the government that will help encourage more investment.

The developer also indicated that it was considering investing a further $40m in a second phase to produce and sell 40 MW to AES, the private utility.

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