Ecuador hydro developer seeks financing
A new company in Ecuador aims to develop a hydroelectric plant in Morona Santiago province.
Information from the Inter-American Investment Corporation (IIC) reveals the lender has been approached by Hidrowarm for the 48.5MW run of the river project Normandía.
The developer looks to secure up to US$75mn from IIC for the plant, which would boast five Pelton turbines and use water from the Upano river. Other components include a 230kV, 85km transmission line and substation.
Ecuador's power regulator Arconel granted Hidrowarm the project's environmental license in July.
All land required for the plant has been purchased and Hidrowarm is preparing a plan to negotiate and secure the right of way for the transmission line, said IIC.
IIC's board is scheduled to review Hidrowarm's financing request on October 27.
Hydroelectric plants accounted for 65.8% of the 1,943GWh injected into the grid in July.
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