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, only 10 companies met the technical specifications required by the government. Five of the six participating firms proposed 60 MW projects for solar energy. The MEM also picked two hydropower projects with a combined capacity of 150 MW while just one wind project with a capacity of 44.8 MW was chosen.
The MEM will grant the wind and solar projects a 25-year power purchase agreement and the hydroelectric facilities a 30-year contract.
Country updates
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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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September 20, 2022
Polaris closes acquisition of majority stake in 6 MW hydro project in San Jose de Minas
Polaris Renewable Energy Inc. has completed the acquisition of 83.16% of the issued and outstanding shares of an operational 6 MW hydro power project along the Cubi River in San Jose de Minas, Ecuador...
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April 11, 2022
Ecuador extends tender deadline for 400 MW gas-fired plant project
The Ministry of Energy and Non-Renewable Natural Resources (MERNNR) of Ecuador has extended the deadline for the delivery of documentation showing signs of interest by national or foreign companies th...
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March 07, 2022
Ecuador extends tender deadline for the concession of 2.4 GW Santiago hydropower project
The Ministry of Energy and Non-Renewable Natural Resources of Ecuador has extended the deadline for the submission of bids for the concession of the Santiago Hydroelectric Power Plant project in the p...
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February 02, 2022
Turbines arrive for 50 MW Minas de Huascachaca wind project in Saraguro Canton
The construction of the 50 MW Minas de Huascachaca onshore wind farm is set to commence with the arrival of the 14 wind turbines in Puerto Bolívar port from China. It will be the larg...
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