Guatemala-based CMI Group and the El Salvador-based unit of AES Corporation have completed the installation of the first tranche of the 100 MW Bosforo solar project, in which they have commissioned about 30 MW of capacity. The Bosforo I project required an investment of $48 million and about 132,000 polycrystalline modules were used in the project. During the second phase of the project, three additional 10 MW plants will be constructed. Of these, two will be set up in the western part of the country and one in the department of Usulután. In the final phase (Bosforo III), three more solar plants totalling 40 MW will be built in the central zone of El Salvador. The 100 MW solar park has been partly financed by OPIC. In addition, Finnish Fund for Industrial Cooperation Limited had announced a $15 million loan for this project in January 2018. The project comprises 10 solar power plants with a capacity of 10 MW each, to be located in low income rural areas of the country.