Ecuador‘s Electric Corporation Approves New Rules for Private Investment in Power Plants
The Electric Corporation of Ecuador (Celec EP) has announced new regulations allowing the company to collaborate with private investors to construct additional power plants and strengthen the electrical grid. The announcement, made on July 12, 2024, aims to address the energy shortage affecting the nation.
Driven by the need for additional funding, the government is encouraging strategic partnerships between public and private entities to implement various electricity production projects. This collaborative approach fosters innovation and efficiency through the utilization of modern technologies.
The new rules outline the framework for various projects, inviting both individuals and businesses, both public and private, to participate in national or international initiatives.
Projects in the Pipeline
Under the new regulations, Celec has identified eight projects with a combined capacity of 912 megawatts. The estimated investment for these projects is approximately $1.5 billion. The distribution of projects is as follows:
- Wind power: El Pimo (130 MW) in Azuay and Villonaco III (110 MW) in Loja.
- Hydroelectric power: Abitagua (181 MW) in Tungurahua and La Union (90 MW) in El Oro.
- Photovoltaic power: Mazar (201 MW) in Cañar, La Ceiba (100 MW) in Loja, and Matala (100 MW) in Loja.
- Modernization: Molino power plant and substation upgrade (Azuay – Morona Santiago).