Renewable Energy Resources
The 2007 National Energy Policy supports the diversification and increase of energy sources, mainly through renewable energy such as hydroelectricity, geothermal, solar, wind power and biofuels (as well as mineral coal and natural gas). Besides hydroelectricity and geothermal energy, the government foresees the addition of 50MW of renewable generation in the next 10 years in the form of wind power, solar power, biomass and mini-hydroelectric plants.
In November 2007, El Salvador approved the Fiscal Incentives Law for the Promotion of Renewable Energy. This new legal framework includes incentives such as a 10-year tax exemption for projects below 10MW of generation capacity. A new System for the Promotion of Renewable Energy (SIFER) contemplates the creation of a Revolving Fund for the Promotion of Renewable Energy (FOFER) that would provide soft loans and guarantees and assist in the financing of feasibility studies for new projects.
Read more about this topic: Electricity Sector In El Salvador
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