El Salvador has signed a partnership with the International Renewable Energy Agency (IRENA) to boost decarbonisation 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 decarbonisation plans and boost the financing of renewable energy projects. It will contribute to the development of geothermal energy in El Salvador.”