Corporación Eléctrica del Ecuador (CELEC E.P.) is a state-owned holding company engaged in the generation, transmission, distribution, commercialization, import and export of electric power. As part of its strategic plan, CELEC aims to guarantee Ecuador's energy sovereignty and change the energy matrix by incorporating renewable energies. CELEC has a porfolio of hydroelectric, thermal and renewable energy projects including the emblematic 1500MW Coca Codo Sinclair hydroelectric plant project in Napo and Sucumbios provinces, the country's largest energy project. The first four of the project's eight turbines began operations in 2016. CELEC E.P. was created a strategic public company in 2010 by an Executive Decree that incorporated CELEC S.A. and Hidroeléctrica Nacional S.A. It is linked to Ecuador's ministry of electricity and renewable energy. CELEC S.A. was formed in 2009 as a result of a merger between Electroguayas S.A., Hidroagoyán S.A., Hidropaute S.A., Termoesmeraldas S.A., Termopichincha S.A., and Transelectric S.A. The state entity is headquartered in Cuenca, Azuay province, Ecuador.