March 11, 2014 - Martifer Solar, a subsidiary of Martifer SGPS, strengthens its position with the opening of an office in El Salvador. The new office is located in San Salvador and will be in charge of business development within the country.
The company is currently working with private investors in El Salvador and actively pursuing utility-scale solar opportunities. An increasing number of utility-scale tenders providing solid opportunity for project development coupled with high levels of solar radiation make it a strong country of growth for renewable energy.
"Martifer Solar has a proven reputation for its ability to adapt to local markets around the world. The company is currently operating in more than 20 countries over 4 continents and we look forward to bring this extensive know-how to the market in Central America," said Ismael Garcia, Business Developer for Martifer Solar. "Our new office in El Salvador will allow Martifer Solar to provide on-the-ground support for our clients in Central America and increase our experience in these emerging markets. We see great potential in this region and believe that this office will be a rewarding endeavor for the company."
As acknowledged by a recent Worldwatch Institute report, approximately 65% of Central America's electricity comes from renewable energy sources—mostly hydro and geothermal. Therefore, solar energy has plenty of room to develop due to a mix of current frameworks in the region and increasing affordability of PV systems.