- Ecuador expects to raise private capital of around US$2.2 billion in renewables
Ecuador expects to raise private capital of around US$2.2 billion in renewables
08/17/2021 Since 1 month
The Ecuadorian government through the Ministry of Energy and Non-Renewable Natural Resources approved the extension of the Electricity Master Plan (PME) until 2031. This was done through ministerial agreement No. MERNNNR-VEER-2021-0008-AM, which seeks to guarantee the supply of the country’s electricity demand in the coming years, and prioritise the use of renewable resources, with the incorporation of around 1,440 MW in addition to what is already planned to enter the National Interconnected System (SNI).
The country expects to raise private capital of around 2.2 billion dollars in Non-Conventional Renewable Energy (NCRE) from photovoltaic, wind, geothermal and biomass projects, among others. The projects will be awarded through public tenders. The country expects to have the first NCRE block of 500 MW in operation by 2024, and the second block of 500 MW by 2025.
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