Canadian consortium inks PPA for 50MW PV plants in Ecuador

  • A Canadian consortium has signed a 20-year power purchase agreement with Conelec for 50MW of PV plants in Ecuador. Image: Fotopedia.
    A Canadian consortium has signed a 20-year power purchase agreement with Conelec for 50MW of PV plants in Ecuador. Image: Fotopedia.

A Canadian consortium composed of renewable energy developers Solexica Energy Corporation, JCM Capital and Radical Energy have signed a 20-year power purchase agreement with electric utility firm Conelec for a 50MW PV plant in Ecuador.

The plants are being developed as a result of strong government support for renewable energy. Conelec launched a feed-in tariff in early 2011. Under this tariff, power generated by the plants will be purchased at US$0.40 per kWh and distributed via the national grid.

“These projects combined will represent one of the largest construction-ready feed-in-tariff based solar PV facilities in Latin America,” said Adam Hepworth, CEO of Solexica.

Christian Wray, CEO of JCM added: “This endeavour is a tremendous stimulant to the local economy and a much needed supplement to the current energy deficit in Ecuador.”

The plants are expected to bring in more than US$200 million in investment to the local economy. During the construction phase, the plants will generate an estimated 400 jobs.

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