Page 8 - LatAmOil Week 43 2022

LatAmOil EL SALVADOR LatAmOil

EDP takes delivery of LNG at the FSRU, regas- of commercial operations at Acajutla. “EDP
ifies it on the vessel and then pipes it to shore marks a step change in the clean energy tran-
via a 1.8-km pipeline. That pipeline leads to the sition in Central America and for our work as
newlwy built TPP, which has a generating capac- innovators building a sustainable world. Bring-
ity of almost 380 MW. ing our landmark Energia del Pacifico project
Invenergy did not say whether the power sta- online during the pandemic is nothing short
tion was yet operating at its full design capacity. of remarkable and is a testament to Invener-
However, it did note that EDP was making use gy’s expertise and perseverance and remains a
of the two 230-kV transmission lines. shining example of the opportunities that can
One of these serves to connect the plant to be created when private initiatives have strong
the Central American Electrical Interconnec- local government support,” he said. “I am proud
tion System (known as CAIES), which also of Invenergy’s leadership in delivering a clean
serves the power grids of El Salvador, Guate- energy future for El Salvador.”
mala, Nicaragua, Honduras, Costa Rica and Invenergy has been acting as lead developer
Panama, it said. of the EDP project, and it has backing from its
This link will “[provide] added grid reliability partners Grupo Calleja, Quantum Energy and
to the region and [open] further opportunities VC Energy de Centroamerica, all three of which
for renewable energy in El Salvador,” the com- are based in El Salvador. ™
pany said in its statement.
To date, it added, EDP has signed long-term
power purchase agreements (PPAs) with seven
local electricity supply companies.
The Invenergy statement went on to say that
the introduction of gas-fired power would help
El Salvador reduce its greenhouse gas (GHG)
emissions by reducing the need for using high-
er-polluting fuels such as coal and petroleum
products, Additionally, it put the cost of EDP
at more than $1bn and described the project
as “the largest-ever private investment in El
Salvador.”
The country secured funding for the LNG-
to-power project from several international
financial institutions (IFIs) and export credit
agencies, it added.
Michael Polsky, the founder and CEO of
Invenergy, expressed satisfaction with the start The Acajutla TPP has a generating capacity of nearly 380 MW (Photo: Invenergy)

COLOMBIA
Petro administration will uphold existing

oil and gas contracts, Energy Ministry says

COLOMBIAN President Gustavo Petro, who might seek to revise the terms of ongoing explo-
assumed office in August of this year, intends to ration and development schemes.
uphold existing oil and gas contracts, the coun- According to the ministry, however, no such
try’s Energy Ministry said last week. revisions are planned, and current contracts will
Petro has made his distaste for fossil fuels be upheld.
clear. During his campaign for the presidency, “The 330 contracts for exploration and
he said he would, if elected, halt new explora- exploitation of hydrocarbons in Colombia will
tion projects, work to encourage the adoption be respected,” the statement said.
of renewable energy sources and tax oil and coal It also pointed out that Colombian oil pro-
exports. He also indicated that he would seek duction levels had actually risen since Petro’s
to ban hydraulic fracturing (fracking), a drill- accession. The country is now producing around
ing technology used to exploit unconventional 779,000 barrels per day (bpd) of crude, it stated.
hydrocarbon resources. Additionally, the Energy Ministry noted that
These positions led many observers to raise 117 of the 207 exploration contracts signed by
questions about whether his administration the government were currently active.

P8 www. NEWSBASE .com Week 43 26•October•2022