#Author:Er Abinesh Chettri, Eleotronices Engieering NIT Sikkim India https://nitsikkim.ac.in/
El Salvador has signed a partnership with the International Renewable Energy Agency (IRENA) to boost decarbonization efforts across the Central American country. In 2019, more than two-thirds of the country’s energy supply came from imported fossil fuels and it is currently drawing up a new energy policy plan for the next 30 years to move away from this. It plans to replace fuel imports with renewable sources of energy such as hydropower, biomass, solar and geothermal. IRENA will now work with El Salvador to implement its new clean energy policy and identify the right projects to finance for a green transition. Geothermal energy is a large focus of the country, with President Nayib Bukele stating a desire to use the energy to power bitcoin mining and put El Salvador on the digital economy map. Foreign Minister, Alexandra Hill Tinoco, commented: “This cooperation agreement will support our national decarbonization plans and boost the financing of renewable energy projects. It will contribute to the development of geothermal energy in El Salvador.” El Salvador is in the process of implementing a new long-term national energy policy 2020 – 2050, which aims to reduce electricity tariffs in the country by prioritizing renewables over fuel imports and facilitating the removal of subsidies from electricity towards the end of the policy period. El Salvador is increasingly turning to indigenous renewable sources of energy such as hydropower, biomass, solar PV and geothermal energy. In 2019, more than two-thirds of the country’s total energy supply came from imported fossil fuels. “El Salvador is a key partner in the implementation of IRENA’s regional programs in Central America and an active player in the Global Geothermal Alliance. This cooperation agreement will support our national decarbonization plans and boost the financing of renewable energy projects. It will contribute to the development of geothermal energy in El Salvador,” said Minister Hill. In recent years, solar PV, wind and as well as other renewable technologies have boomed in El Salvador as the country looks to move away from traditional energy sources seen as compromising the country’s socioeconomic future. El Salvador is making historic changes to its legal environment to promote both public and private renewable energy projects, with a view to providing affordable, safe, efficient and modern energy.
Source: sustainable development goal funds
UNPD
Future net zero
International Renewable Energy
