El Salvador has plans to build a billion dollar renewable energy precinct, which has found its first-round investor in stablecoin issuer Tether. Here are the most important points to know about this development:
1. The renewable energy precinct will be built in the La Union department of El Salvador and will consist of a solar farm, a wind farm, and a data center.
2. Tether has committed to investing $10 million in the project, which is expected to create around 2,000 jobs and generate 500 MW of clean energy.
3. The project is part of El Salvador’s broader goal to transition to 100% renewable energy by 2050 and reduce its dependence on fossil fuels.
In summary, El Salvador’s plans to build a renewable energy precinct with Tether as its first-round investor is a significant step towards achieving its goal of transitioning to clean energy. This project has the potential to create jobs, reduce carbon emissions, and contribute to the country’s economic growth.