The Ecuadorian Government has launched a plan to contract 750 MW of electricity generation to tackle the low energy generation due to avoid power cuts during the country’s dry season due to its dependency on hydro power. The bidding process for the acquisition or leasing of 750 MW of energy is set to start on 2 September 2024, with the first 200 MW expected to come from leased barges expected to start operating by November, 40 MW will be contracted from Termogas Machala gas power plant, and 500 MW would come from the purchase of five onshore power generation engines. The entire process is expected to require an investment of about US$1,000m. In addition, the Ecuadorian Ministry of Energy and Mines plans to incorporate an energy efficiency campaign involving the compensation of the private projects that achieve to reduce their energy consumption during peak hours.
The 15 August 2024, the government declared the energy sector in emergency to accelerate the processes for the acquisition of electricity to meet the national demand. Total capacity in Ecuador reached 8.9 GW at the end of 2023. It is mainly hydroelectric (58%), followed by oil with 31% and gas with 9%.
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