Ecuador power sector in line for new financing
A US$245mn program to advance Ecuador's shift to a cleaner energy matrix may secure multilateral financing in the near term.
Support would come from the Japan International Cooperation Agency and IDB with respective contributions of US$70mn and US$130mn, according to the latter. The other US$45mn would be provided locally, while the power and renewable energy ministry would be the executing agency.
Although IDB highlights the government's hydropower push, led by flagship plant Coca Codo Sinclair (1.5GW), the regional lender says additional investments are required to dispatch electricity from these plants to the final user.
The bulk of program funds would go to expand, reinforce and modernize transmission (US$137mn) and distribution infrastructure (US$77.7mn) while US$29mn would support the country's national energy efficiency plan.
IDB's board is expected to review its share of the proposed financing in September.
In recent days, Latin America development bank CAF approved a US$130mn loan to help Ecuador on these fronts.
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News in: Electric Power (Ecuador)
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Hidronormandia S.A. is an Ecuadorian special purpose vehicle created to develop the Normandia hydro project, which involves the design, construction, operation, and maintenance ...
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The description included in this profile was taken directly from an AI source and has not been edited or modified by BNamericas researchers. However, it may have been automatica...
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The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
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The description included in this profile was taken directly from an official source and has not been modified or edited by the BNamericas’ researchers. However, it may have been...
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