Ecuador's state power generation holding company Celec, was formed in February 2010 and includes power generation firms Hidropaute, Electroguayas, Termoesmeraldas, Termopichincha, Hidroagoyán, Hidronación and Termogas Machala along with transmission company Transelectric. The generators have a number of projects under construction and in the bidding process. Ecuador's solidarity fund, which was liquidated, was the majority shareholder in these companies. The state entity is headquartered in Cuenca, Ecuador.
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