Ecuador, China ink transmission financing deal

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Wednesday, October 29, 2014

Ecuador's government and the Export-Import Bank of China signed an agreement to finance state transmission company Transelectric's 500kV transmission project.

The deal was signed in Beijing during a visit by a delegation led by strategic sectors minister Rafael Poveda.

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The bank will provide US$509mn for the US$602mn line that will transport power from flagship hydro Coca Codo Sinclair and other large plants to main load centers.

The Chinese lender is also helping to finance hydros Minas-San Francisco and Sopladora.

Also from Ecuador, Transelectric started operations of substation Babahoyo 2, which will improve dispatch reliability in Los Ríos province that is served by state distributor CNEL.

And the power and renewable energy ministry issued a call for expressions of interest to define criteria to select an area to implement a smart grid pilot plan. The deadline to submit information for the IDB-backed project is November 11, according to a notice on the UN Development Business website.

BNamericas will host its 11th Southern Cone Energy Summit in Lima, Peru, on November 12-13. Click here to download the agenda.