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El Salvador plans 40% of energy to come from geothermal by 2020

El Salvador plans 40% of energy to come from geothermal by 2020 Berlin geothermal power plant of La Geo in El Salvador (source: Enex)
Francisco Rojas 12 Jan 2015

El Salvador is creating and ambitious 5 year plan with the goal of producing 40% of the nation's power from geothermal and becoming a regional leader.

El Salvador has ambitious plans for geothermal energy development in the near future. According to local news, The country’s president, Salvador Sanchez Ceren, announced that a new 5 year plan is underwya to bolster economic growth and a diversification in the energy matrix.

Ceren said that the main objectives of the Five Year Plan are to strengthen the micro and small enterprises, strengthen security and food sovereignty, and the consolidation of a public financial system to the private system.

“Our commitment is to generate an economy of sustained growth” said the president. In addition a diversification of the energy matrix is being looked into, and at the end of five years, geothermal is expected to be covering 40% of the energy produced in El Salvador.

“This means cheaper energy and making the country a regional leader” said Ceren adding that investment in clean energy generation will be happening. In addition, they announced a 10.9% reduction in the price of electricity which will take effect from January 15th. Officials said they hope to increase this reduction to 15% in April.

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Source: La Prensa Grafica