Acajutla Gas-Fired Power Plant and LNG Terminal

active

Prospective

The financing will be used for the development, operation and maintenance of a 378 MW gas-fired power plant and the supporting infrastructure located at Acajutla port project in El Salvador. The energy import asset includes a dedicated floating storage regasification unit (FSRU) and natural gas pipelines comprising a 1.3km subsea pipeline and a 500 meter onshore underground pipeline. Acajutla Energy and Port project will also feature a 44km transmission line connecting the power plant to a substation of same name. The Acajutla Energy and Port project is located at the port of Acajutla in the Department of Sonsonate. Total financing has a 88:12 debt-to-equity ratio, with the debt portion totaling $772 million. IFC’s investment comprises: USD100 million A loan; USD65 million from IFC acting as implementing entity for the managed co-lending portfolio programme; USD30 million in credit guarantee. IDB Invest provided an 18-year, $115 million debt package and OPIC is providing a $350 million loan. In addition, KfW IPEX-Bank, Finnish Export Credit and Finnish state-owned Finnvera financed a $142 million loan tranche. EDP was awarded a 20-year PPA to provide 378MW of gas-fired base-load electricity with the government of El Salvador, in a tender held in 2013. Sponsors of the project are Invenergy that holds 85% interest in the facility and and Quantum Energy Partners that holds another 15%. Financial close took place on December 23, 2019. https://ijglobal.com/data/transaction/43085/acajutla-gas-fired-power-plant-378mw-and-lng-terminal https://sv.usembassy.gov/opic-approves-350-million-development-project-in-el-salvador/ https://www.prnewswire.com/news-releases/energia-del-pacifico-closes-financing-on-largest-ever-foreign-direct-investment-in-el-salvador-300978857.html

Energy

World Bank Group

Project

LNG, Natural Gas, Government, Power Generation (CCGT), Seaport, Commercial, Manufacturing (Industrial)