April 15 (SeeNews) - The Central Bank of Bolivia (BCB) signed on Wednesday a funding agreement with National Electricity Company (ENDE) for the construction of a 5-MW solar power facility in Tarija department.
The bank will lend BOB 65 million (USD 9.5m/EUR 8.4m) to ENDE to build the photovoltaic (PV) plant. Overall, the total cost for the project will be USD 11 million (EUR 9.8m), the government said.
Initially, ENDE will install panels on an area of 15-16 ha in Yunchara region, but the government expects the plant to reach 200 ha in the near future.
Solar projects are very common in this region. Last year, Tarija department received USD 460 million in investments for the expansion of a 160-MW solar PV plant up to 700 MW.
(BOB 1 = USD 0.146/EUR 0.130)