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Solarpack signs contract for the 200 MW El Aromo solar farm (Ecuador)

21 Sep 2022

The Spanish solar energy developer Solarpack has signed a concession contract agreement with Ecuador’s Ministry of Energy and Mining for the construction of the 200 MW El Aromo solar farm, located near Guayaquil in the Manabi province (southern Ecuador). Solarpack will invest US$144.4m in the project.

Solarpack secured the project in a tender for new renewable energy power plants in Ecuador in 2020, and the award entitled the company to a 20-year concession and a power purchase agreement (PPA), which was priced at US$69.35/MWh.

Ecuador is currently running a tender, initiated in December 2021, to award 500 MW of renewable capacity. In 2021, Ecuador had only 28 MW of installed solar capacity (less than 1% of its total installed capacity), generating about 38 GWh of electricity. 273 MW of solar projects are currently under development in the country (including the El Aromo farm).

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