Additional IDB Invest funds in the pipeline for El Salvador LNG project
IDB Invest is to review a financing request next month for the regasification component of Energía del Pacífico’s LNG to power project in El Salvador.
Salvadoran company FSRU Ltda de CV and FSRU Development Pte Ltd from Singapore are looking to secure $90 million for the floating storage regasification unit. Both borrowers are jointly owned by BW Gas and Invenergy.
The funds would go to the purchase and conversion of FSRU Development’s BW Tatiana LNG carrier to a FSRU, which will be moored at Acajutla port. Ownership of BW Tatiana will be transferred to FSRU Ltda. de C.V. for the operational phase.
The FSRU’s dispatch design is 280Mf3/d with storage capacity of 137,000m3, and will deliver the gas to EDP’s 378MW power plant via a 24-inch, 1.75km pipeline.
IDB Invest, which already approved funds for EDP’s power plant, also released the environmental and social review summary for the FSRU that highlights “the limited scope of its environmental, social, and health and safety risks and impacts". The project will be the country’s first natural gas-fired plant and is expected to begin operations in the second half of 2021. It will connect to the national grid and regional network Siepac with a 230kV, 44km transmission line which will run to the city of Ahuachapán.
