QUITO, Sept 20 (Reuters) - Ecuador's government said on
Monday it will grant concessions for private companies to build
and operate power generation plants and a new transmission
system for the oil sector, with the projects demanding total
investment of $1.9 billion.
President Guillermo Lasso, who took office in May, is
seeking to boost the private sector's presence in strategic
areas of the South American country's struggling economy, whose
liquidity problems exacerbated last year due to the coronavirus
"We ratify our openness to responsible investors," Energy
Minister Juan Carlos Bermeo said while presenting the projects.
The search comes as Ecuador's state power company CELEC
races to repair idle thermal power plants to prepare them to
provide backup electricity supply, as raging river erosion https://www.reuters.com/business/energy/ecuador-races-move-oil-pipelines-protect-power-plant-raging-river-2021-07-01
in the Amazon region threatens the Coca Codo Sinclair
hydroelectric plant, which supplies a third of the country's
The government will be seeking concessionaires for a handful
of smaller renewable projects together amounting to 500
megawatts (MW) of new generating capacity. Those wind, solar,
hydroelectric and biomass projects together will require
investment of around $875 million.
Ecuador is also seeking companies to develop a new 400-MW
natural gas based power plant and a 290-km transmission line to
connect the Andean nation's key oil industry to the national
grid. Those projects are expected to require $600 million and
$386 million in investment, respectively.
The projects are expected to begin operating between 2024
(Reporting by Alexandra Valencia
Writing by Luc Cohen
Editing by Marguerita Choy)