Border-spanning team clinches LatinFinance's Awards for Project and Infrastructure Deal of the Year
Energia del Pacifico Gas-Fired Power Plant and LNG Import Terminal Project Recognized
The Energia del Pacifico (EDP) gas-fired power plant and LNG import terminal project in Acajutla, El Salvador, has been awarded as "Infrastructure Financing of the Year: Central America" by LatinFinance. This recognition highlights the significant contribution of this project towards improving El Salvador's energy supply and price stability.
The EDP project, the biggest energy infrastructure investment in El Salvador's history, is a joint venture between Invenergy, a leading independent clean energy company, and Energía del Pacifico, Ltda. de C.V., a local Salvadoran firm. The project aims to diversify El Salvador's generation base and reduce reliance on imported energy.
The project encompasses the construction, operation, and maintenance of a 378MW gas-fired power plant and an offshore LNG import terminal. The offshore terminal includes a 1.3km subsea pipeline, a 500 meter onshore underground pipeline, and a 44km transmission line, designed to connect the power plant to El Salvador's electrical grid.
The EDP project was financed by an estimated US$850 million. The project team included Marissa Leigh Alcala, Tracy Horton, Noam Ayali, Jacob Falk, Christa L. Maiorano, Micaela García-Ribeyro, Rachel Rosenfeld, Pablo Calderón, Julie Mayo, Jessica Rodriguez, Richard Howley, Alexandra Jeffreys, and Jamie Munro.
The project's importance in Latin America and the Caribbean's project and infrastructure sector was further emphasized by the LatinFinance Project and Infrastructure Finance Awards, which recognized the best work in Latin American infrastructure finance and investment in the past year.
The award for the EDP project was given for our role in financing the gas-fired power plant and LNG import terminal project. This recognition underscores the complex financial and legal structure supporting the development of such projects.
Invenergy and Energía del Pacifico's partnership in the EDP project is a significant step towards enhancing El Salvador’s energy infrastructure through cleaner natural gas-based power generation. The project is part of El Salvador's goal to diversify its generation base and reduce reliance on imported energy, contributing to a more sustainable and stable energy future for the country.
[1] The partnership was notably represented in project financing by the international law firm White & Case, illustrating the complex financial and legal structure supporting the development.
- The EDP project, a joint venture between Invenergy and Energía del Pacífico, was recognized as "Infrastructure Financing of the Year: Central America" due to its significant impact on El Salvador's energy industry, contributing to the diversification of its generation base and reducing reliance on imported energy.
- The financing of the EDP project, which encompasses a gas-fired power plant and LNG import terminal, marks a notable achievement in the finance sector, showcasing the complex financial and legal structure that supports the development of such energy projects.
