Bolivia will be able to cover 100 percent of its domestic electricity demand in 2018 thanks to additional output from two natural gas-fired plants currently under construction in the Andean nation, President Evo Morales said Saturday.

The president, who made his remarks after inspecting two turbines that arrived at one of the plants, located in the eastern town of Warnes, said Bolivia will be able to export the power produced at its hydroelectric power stations once it meets domestic demand.

Morales said his government expects Bolivia will be able to export a minimum of 1,000 megawatts of electricity by 2020, with Argentina a likely buyer after the countries signed a memorandum on energy exchanges this week.

The natural gas-fired plant being built in Warnes will guarantee the supply of electricity to some 2,000 companies to be installed at the new Latin American Industrial Park in the eastern city of Santa Cruz, the official ABI news agency said.

This $177 million power facility will add 400 megawatts of installed capacity to Bolivia's electric grid. EFE