ahuachapan gender smart solar project

Ahuachapán Solar, S.A., is expanding solar energy generation in El Salvador after Deetken Impact invested USD $2.2MM via its Ilu Women’s Empowerment Fund—a debt impact fund that seeks to advance gender equality in Latin America and the Caribbean. Deetken Impact also provided direct and comprehensive project development services that are promoting gender equity within Ahuachapán Solar’s operations. 

VANCOUVER, BC (December 6th, 2022) – Ahuachapán Solar, S.A., is a 2.511 MW solar project that began operating at full capacity this year with support from Deetken Impact. Ahuachapán Solar is one of 10 projects participating in the Investment, Enterprise, and Sustainability (INES) program, a Deetken Impact initiative in partnership with the United States Agency for International Development (USAID) to accelerate economic opportunities that support job creation and address some of the root causes driving irregular migration in El Salvador.

Ahuachapán Solar is owned by four Salvadoran businesspeople: Guillermo Altamirano, Pascale Schwartz, Cosme Ozamiz, and Rodrigo Dumont. With the support of the Deetken Impact team and their expert advisory, the project has commenced operations and is now generating 3,216 MWh per year, powering the equivalent of 2,680 households while displacing 427 tons of CO2 from the atmosphere. 

Deetken Impact has over a decade of experience investing in the renewable energy sector, focusing on small and medium-sized projects developed by local sponsors that often have unmet financing needs. 

“We are delighted with the partnership and support provided to Ahuachapán Solar. Together with the Ahuachapán shareholders, we are committed to continue supporting green energy projects in El Salvador.”

Jose Lamyin | Managing Partner, Deetken Impact.

With the USD $2.2MM investment, Ahuachapán Solar was able to refinance its existing debt to reduce the cost of capital and gain additional liquidity needed for redeployment of capital to a second, larger project under development in the western part of the country. 

Deetken Impact also accompanied the project owners over the course of the last year with hands-on and comprehensive acceleration services. These services focused on readying the project for investment from the Ilu Fund, building technical capacity within the team for this and future projects, and optimizing positive social, environmental, and gender impacts. The support provided directly strengthened the management, administration, and operation of the solar power plant itself. 

¨Deetken Impact has been a most valuable key partner to the continuity of our projects. We have learned professionally thanks to the financial, technical and social contributions of their team. It has driven us to work closely as a team and achieve the project’s objectives. We thank the Deetken Impact team for their professionalism and patience, willingness and kindness that they have always shown to our team.¨

Pascale Schwartz | Co-Owner, ASOLAR

Notably, the Deetken Impact team also advised the project owners on the design and integration of gender smart initiatives into project operations to meet requirements from the Ilu Fund, while ensuring project benefits are optimized and equitable. The project owners received training on fundamental gender concepts and the intersection of climate change and gender equality, as well as support to develop inclusive recruitment practices. Deetken Impact also led the development of a gender-sensitive community engagement strategy and action plan, after conducting socioeconomic community research focused on understanding the community’s needs and opportunities for sustainable development.. As a result, the project owners will implement gender inclusive community initiatives focused on vocational training and education, health and wellbeing, and infrastructure. 

ahuachapan solar award

In November 2022, the project received an award at the “Sustainable Innovation Solutions” event organized by AES El Salvador, recognized as leaders in the solar project category.

The Deetken Impact team is proud to contribute an improved renewable energy transition in the region and the positive expected impacts on strengthening climate resilience, advancing gender equality, while expanding opportunities in underserved communities.


About Deetken Impact:

Deetken Impact is a Canadian registered investment fund manager with a 10-year track record of delivering strong, stable returns to investors by supporting businesses that make a meaningful contribution to the Sustainable Development Goals. Together with its joint venture partners, Deetken Impact Sustainable Energy and Deetken Impact Alternative Finance, Deetken Impact currently manages US$150 million in impact assets. In 2022, Deetken Impact was selected to the ImpactAssets 50 Impact Investment Fund Manager Showcase.



About Ahuachapán Solar:

Ahuachapán Solar, S.A., is a 2.511 MW solar project founded in 2018 by four Salvadoran owners: Guillermo Altamirano, Pascale Schwartz, Cosme Ozamis and Rodrigo Dumont. It is located about 105 kms from San Salvador in the municipality of Villa de Jujutla in the Ahuachapán department of El Salvador. 

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Magali Lamyin, Director of Communications and Development for Deetken Impact


Director of Communications and Development


Magali brings extensive market intelligence, business development and marketing experience from her work at the Central Bank of Mexico, the Canadian Institute for Market Intelligence, and the IESE-PWC e-Business Centre in Barcelona. She also co-led national marketing campaigns for businesses in the hospitality and early childhood education sectors for almost a decade before joining Deetken. In her current role, she is responsible for leading Deetken Impact’s communications, marketing and branding strategy. She is also involved in the due diligence process for project selection with an emphasis in Mexico.

Magali holds a BA in Economics from Mexico's ITAM and a Master's degree in Economics from the University of British Columbia.

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Jose Lamyin, Managing Partner Deetken Impact


Managing Partner


José has extensive experience as a business advisor for clients throughout Canada, Europe and Latin America in mining, telecommunications, and finance. Prior to co-founding The Deetken Group, José worked for Teck Cominco in Peru and Canada and Deutsche Bank in London (UK). José has spearheaded much of the strategic growth of Deetken Asset Management since inception and is currently focused on investment selection.

José received his BS in Engineering from the University of British Columbia and MBA from IESE School of Business (Barcelona). Born in Peru, José is fluent in English and Spanish.

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Alexa Blain, Managing Partner Deetken Impact


Managing Partner


Alexa is responsible for finance, operations and investor relations at Deetken Impact. She brings over 10 years of experience in financial consulting and asset management, with specific expertise in company and investment analysis, business valuation and securities/corporate finance. Prior to joining Deetken, she spent three years with African Alliance, a pan-African financial services group, where she focused on expanding the firm’s retail financial services operations as well as on the origination and negotiation of new capital. In addition, Alexa has six years of asset management experience with the Canada Pension Plan Investment Board, the Macquarie Group and the Ontario Teachers’ Pension Plan.

Alexa is a CFA Charterholder. She has also completed an MA in Financial Economics and an Honours BA in Economics, both at the University of Toronto.

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Fernando Alvarado, Head of Deetken Impact Sustainable Energy



Honduras Renewable Energy Managers (HREM) and Caribbean Renewable Energy Managers (CAREM)


Fernando Alvarado leads the General Partner and Investment Advisor of two clean energy and energy efficiency project finance and venture capital funds: Honduras Renewable Energy Financing Facility (H-REFF) and Caribbean Basin Sustainable Energy Fund (CABEF), which he structured and runs with a combined target capitalization of $100m.

Development Investment Banker with 28 years of international credit and investment experience and 18 years of direct experience assessing diversified renewable energy portfolios in Latin America & the Caribbean. He has participated in more than 50 syndicated credit and investment transactions for renewable energy projects in excess of $250 MM. He led the creation, structuring, fundraising, legal closing and portfolio construction of several specialized renewable energy funds.

Costa Rican, based in San Jose, Mr. Alvarado has an MBA in Banking and Finance cum laude from Universidad de Costa Rica.

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Carl Black, Portfolio Manager Deetken Impact


Portfolio Manager


Carl is a Portfolio Manager with Deetken Impact focused on analyzing and working with MSMEs, social enterprises, and renewable energy developers in Latin America and the Caribbean. His main responsibilities include supporting business development, managing technical assistance projects, leading investment due diligence, and monitoring portfolio performance. Prior to joining Deetken Impact, Carl worked for five years as a consultant, advising public sector clients an non profits in Canada and financial services companies in Latin America. He started his career at the Bank of Canada, where he researched issues related to household and business credit. 

Carl completed an Honours BA in Economics at the University of British Columbia. He also holds an MSc in Economics & Development from the University of Oxford, where he earned distinctions in quantitative and development economics.

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Cristobal Aguirre, Investment Analyst at Deetken Impact


Investment Analyst


Cristobal has over 6 years of experience in the asset management industry, where his responsibilities have ranged from asset allocation and portfolio management to risk analysis and software development. Before relocating to Canada, Cristobal worked as a senior investment analyst in AFP Habitat—Chile’s largest pension fund—where he led the tactical asset allocation and macroeconomic research for emerging markets.

Cristobal is a CFA Charterholder, and completed a BA in Economics at Universidad de Chile.

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Chad Parsons, Senior Investment Analyst at Deetken Impact




Chad has worked as a consultant in business and technology for 20 years – often helping clients with their business transformation initiatives.    He has worked with start-ups, government, and established businesses to further their product and service offerings with a balanced approach.   After pursuing a research degree on leveraging technology for social and economic development; Chad has found a valuable alignment of his background with Deetken’s innovative impact investments. 

Chad completed a BS in Engineering from the University of British Columbia and has a MSc with distinction from the University of Manchester (UK).

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