Ten companies have submitted technical offers for around 700 MW of new wind, solar and hydropower projects in Ecuador’s international renewable tender, which originally intended to award 500 MW of new projects. The goal of the tender is to secure an average power supply of 2,119 MWh/year. The projects are expected to represent investments totalling US$875m (100% from the private sector).
In its tender invitation, the Ecuadorian Ministry of Energy and Mining divided the 500 MW into four blocks, allocating 150 MW for small-scale hydropower (projects ranging between 3 and 50 MW), 200 MW for wind power (10-100 MW projects), 120 MW for solar PV (3-60 MW projects) and 30 MW for biogas or biomass-based power plants (1-15 MW projects). The bidding companies will compete for 30-year concessions for hydro, 25-year concessions for wind and solar PV, and 20-year concessions for biomass/biogas projects. Bids with the lowest energy prices will be awarded concessions.
At the end of 2020, hydro represented 58% of Ecuador’s installed capacity with 5.1 GW and 78% of its power generation with more than 24 TWh. Solar and wind each represented less than 1% of the country’s installed capacity in 2020.
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