El Salvador has announced the successful companies in a 170MW solar and wind tender.
Four solar projects totalling 120MW of solar will receive between US$49.55/MWh to US$67.24/MWh and one 50MW wind project will get US$98.78/MWh.
The ceiling prices had been US$105.30 for solar and US$98.78 for wind. The 20-year contracts will start in 2019.
The projects will represent investments of approximately US$340 million and the winning companies will be required to invest 3% of their annual income from the installations into community projects where they are sited.
The winning companies in the bid were Tracia Network Corporation, Capella Solar, Sonsonate Energy and Asocio Ecosolar.
The results of the tender will now be sent to SIGET, the department responsible for electricity and telecoms, for approval and will be signed no later than 27 March this year.
El Salvador is targeting a 13.4% share of renewables in its energy mix by 2019.