The Ecuadorian Ministry of Energy and Mines and the state-owned power utility Electricity Corporation of Ecuador (CELEC) have initiated the pre-contractual procedure to secure lines of credit from the Inter-American Development Bank (IDB) and the European Investment Bank (EIB), to finance the construction of the 500 kV electrical interconnection project between Ecuador and Peru. The project requires an investment of US$289m, of which the IDB will grant US$125m, the BEI US$125m and the difference will be self-financed by CELEC.
The project involves the construction of an extensive infrastructure network spanning the provinces of Guayas and El Oro. Comprising four distinct phases, it includes a 207 km transmission line from Chorrillos to Pasaje at a voltage of 500 kV. Additionally, the project encompasses the expansion of the Chorrillos substation and the establishment of a new electrical substation in Pasaje with a capacity of 600 MVA and a voltage of 500/230 kV. Furthermore, a 77 km transmission line from Pasaje to the border will complete the system.