Home Bosforo PV Project Bosforo PV Project In brief Bosforo Ltda de CV is a project company that is constructing ten solar power plants in El Salvador, Central America. Power plants are expected to be fully operational in 2019. Together, they will have a capacity of 100 megawatts. The company responsible for the project, Bosforo Ltda de CV, is owned by two companies with long expertise in the energy sector: AES Soluciones, Ltda de C.V., part of AES El Salvador and a subsidiary of The AES Corporation, an international energy company, and CMI Solaris Investments, S.L., owned by a conglomerate Corporación Multi-Inversiones. Main development impact Once ready, each of the ten power plants will generate sufficient electricity for nearly 30,000 rural households, which consume on average less than 65kWh/month. It is estimated that the project will decrease emissions by up to 175,000 tons of CO2 equivalent annually by substituting 250 GWh of less efficient thermal generation by fossil fuels. Solar power plants will be located in poor rural areas where many residents are dependent on remittances coming from abroad, and illiteracy is common. Currently, the company has made an agreement in three municipalities in the eastern part of the country: Conchagua, El Carmen and Pasaquina. The construction projects and the community projects are carefully planned in close cooperation with residents. It is estimated that a labor force of up to 70 people will be employed throughout the initial two years of construction. Investment details Name: Bosforo PV Project Project number: 80000029 Region: Latin America and the Caribbean Country: El Salvador Sector: Energy Signing date (month/year): August 2017 Currency: USD Finnfund's financing (commitment): 15,000,000 Size of the project financing: USD 160,000,000 Share of Finnfund's financing (%): 9 % Status: Active Website: http://www.aes-elsalvador.com/nuestra-empresa/bosforo/Website (if available) Please note, that in principle, this information is given at the time of signature according to Finnfund's disclosure policy. However, in the case of investment funds, the share of Finnfund’s financing (%) is disclosed after the fund’s final closing, and information on the portfolio companies financed by the fund is updated at least once a year.August Read our transparency and disclosure policy More information: Ajankohtaista ja julkaisut Nykyiset investoinnit Toimialat Yhteystiedot Key facts Name: Bosforo PV Project Sector: Energy Region: Latin America and the Caribbean Country: El Salvador Currency: USD Finnfund's financing (commitment): 15,000,000 Signing date (month/year): August 2017 Last update: May 2019