Ingresar
Key project to supply natural gas and diversify El Salvador's energy matrix
By Eproint
IDB Invest, a member of the IDB Group, structured a USD128.3 million financial package to finance a floating storage and regasification unit (FSRU) to be installed in El Salvador by Invenergy, a leading U.S. global energy developer, and BW LNG, a leading owner and operator of liquified natural gas (LNG) carriers and floating storage regasification units (FSRUs).The project has acquired an LNG tanker that is being converted into a FSRU with 137,000 m3 of gross LNG storage capacity. The FSRU will be for the exclusive use of the 378 MW Energía del Pacífico project, the first natural gas plant in the Northern Triangle.
The financial package has a 15-year tenor and consists of a USD85.8 million loan from IDB Invest and a USD42.5 million loan from the Chinese Co-financing Fund for Latin America and the Caribbean, made to FSRU Ltda. de CV in El Salvador.
The vessel will be anchored 1.2 km offshore off the Port of Acajutla in the department of Sonsonate. It will provide LNG storage and regasification services to Energía del Pacífico, which is critical for its operation.
By supplying LNG as an input for the plant, the project will help diversify El Salvador's energy matrix, reduce reliance on heavy fuel oil, and also reduce dependence of electricity imports from the region.
Once in operation, it is expected that this project and the Energía del Pacífico plant will increase the installed energy capacity of El Salvador by 20 percent with the adoption of a new generation technology based on a cleaner and more cost-efficient fuel.
The operation potentially contributes to one of the United Nations Sustainable Development Goals: Affordable and Clean Energy (SDG 7).
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During her career, Mrs. Portal has helped numerous international law firms and in-house counsel with all facets of their IP matters in El Salvador and Central America. Her extensive practice includes work in trademarks, patents, industrial designs, utility models, copyrights, unfair competition, foreign investment, regulatory law/health registrations, licensing, franchising, appellations of origin, geographical indications, IP litigation, fashion law, new technologies, data privacy, cybersecurity, domain names, entertainment law, advertisement law, trade secrets, valuation of intangibles, and IP due diligence. She is also recognized for the great anti-piracy and anti-counterfeiting results she has delivered for her clients. She also helps coordinate Latin America Intellectual Property Protection for the firm.