U.S. International Development Finance Corporation (DFC) has granted a US$144 million loan to support the construction of the first private-sector-owned, utility-scale solar power plant in Ecuador.
The 200 MW solar photovoltaic (PV) project will be constructed in Ecuador’s El Aromo area of coastal Manabi province. The project was approved by DFC’s Board of Directors in June 2023.
Ecuador has provided a representative lens of the DFC's tools at work, ranging from financing large infrastructure and renewable energy projects to supporting small businesses through on-lending, pioneering conservation efforts, and bolstering health systems.
Country updates
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March 30, 2023
IFC grants US$160mn loan to support the blue economy in Ecuador
The International Finance Corporation (IFC) has granted a sustainable loan worth US$160 million to Produbanco, one of the top banks in Ecuador. The loan is aimed at promoting the blue econom...
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February 03, 2023
Dominion wins 60 MW solar PV project in Ecuador
Ecuador has awarded Dominion a 60 MW solar photovoltaic (PV) project. This is one of the projects granted by the government at the highest auction price of US$66.98/MWh. Dominion presently supervises...
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February 01, 2023
50 MW wind project in Loja nears completion
Elecaustro SA has installed the final of 14 turbine rotors at its 50 MW Minas de Huascachaca wind project, bringing the asset's completion rate to 98%. Currently, 11 wind turbines are being tested and...
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January 17, 2023
Ecuador allocates 345.3 MW of solar capacity in renewables auction
The Ministry of Energy and Mines (MEM) of Ecuador, in its 500 MW renewable energy auction launched in December 2021, has allotted 345.3 MW of solar capacity. At the end of the procurement process, on...
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December 01, 2022
Financing secured for 500 kV Transmission project between Ecuador & Peru
The Inter-American Development Bank (IDB) has approved a US$125 million loan for a 500 kV power line that will help Ecuador and Peru connect their electrical grids.
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