The Ministry of Energy and Mines of Ecuador has unveiled the winners of a tender for 500 MW of renewable capacity to be built across the country. The Ministry has selected seven companies, including France’s Neoen and Total Eren, Spain’s Dominion Energy, Consorcio Santa Rosa Energy and Consorcio El Rosado Energy, as well as Ecuador’s Consorcio San Jacinto and Mexico's Consorcio Esco to build 200 MW of wind parks, 150 MW of small hydroelectric plants, 120 MW of solar PV plants and 30 MW of biomass and biogas power plants. Ecuador expects those projects to bring US$689m in private investments to the country and 2 TWh/year of power to the Ecuadorian grid, as well as reduce emissions in the country by about 1 MtCO2eq/year.
The tender was launched in December 2022 and the ministry released the list of bidders that submitted offers in the final stages of the competition earlier in 2023. All of the offers were below the ceiling price that the ministry set for each technology: US$52.44/MWh for hydropower, US$61.12/MWh for wind, US$67.79/MWh for solar and US$45.59/MWh for biomass.
At the end of 2021, hydro represented 58% of Ecuador’s installed capacity with 5.1 GW and 79% of its power generation with more than 25 TWh. Solar and wind each represented less than 1% of the country’s installed capacity in 2021.
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