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Cox Plans 400 MW Solar & 1 GWh Storage In El Salvador

2026-10-16
Source:taiyangnews

Abstract

Spanish energy and water utility Cox Energy plans to develop up to 400 MW of solar PV capacity and 1 GWh of battery energy storage in El Salvador as part of a $2.9 billion investment agreement with the country’s government.  

The agreement covers energy and water infrastructure projects to be developed over the next three years. The proposed solar and storage projects are part of a wider investment program that also includes natural gas infrastructure and water and sanitation services. 

Cox plans to develop two solar PV plants with an initial combined capacity of 200 MW, which could be expanded to 400 MW. The projects will be developed in partnership with El Salvador’s Lempa River Hydroelectric Executive Commission (CEL). 

The agreement also includes battery energy storage systems (BESS) with an initial capacity of 440 MWh and 500 MWh, with the potential to expand to 1,000 MWh. The storage systems are intended to support grid stability and enable renewable energy integration. 

At the signing of the agreement, El Salvador President Nayib Bukele reportedly said Cox will invest $200 million to develop a PV project, and $300 million in battery energy storage. 

Cox will arrange financing with international financial institutions, multilateral organizations, and export credit agencies. 

Recently, the Kuwait Fund for Arab Economic Development signed a KWD 3 million loan for the 11 MW San Matias Solar PV Plant that’s planned to come online in H1 2028 in the San Matias region of El Salvador (see Latin America Solar PV News Snippets). 

As of the end of 2025, El Salvador had over 1.94 GW of total renewable energy capacity, including 738 MW of solar PV and 638 MW of hydropower, according to the International Renewable Energy Agency (IRENA). 

Cox says the El Salvador projects are part of its Latin American expansion strategy, where the company has a significant presence in the water and energy sectors. In April 2026, it completed the acquisition of Iberdrola Mexico for $4 billion, adding 2.6 GW of operational energy capacity and around 12 GW in the pipeline

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