The Ecuadorian state-owned power utility Corporacion Electrica del Ecuador (CELEC) has initiated work on a tender for the construction, financing and operation of a hydropower project, with a total capacity of 2,400 MW. The Santiago project, located in the cantons of Tiwintza, Limón Indanza and Santiago de Méndez, in the province of Morona Santiago (Amazonia), would comprise eight power generation units, with 304.10 MW Francis-type turbines and would require US$3bn of private investments for a total budget of US$6.7bn. Construction is expected to last 6 years and the concession is for 30 years.
Ecuador's total capacity reached 8.8 GW at the end of 2020, with 58% of hydro and 31% of oil-fired capacity.
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