The government of Ecuador has allocated 500 MW of renewable energy capacity in its latest procurement exercise. The selected developers secured 25-year power purchase agreements (PPAs).
The lowest bid for PV in Ecuador’s latest procurement exercise was $0.0498/kWh. The pre-selected developers may secure 25-year power purchase agreements.
Ecuador plans to launch a 500 MW procurement exercise in November.
The solar-plus-storage facility will be built by Ecuadorian developer Gransolar and French renewable energy company Total Eren on Santa Cruz Island in the Galapagos National Park.
Solarpack was the winner of Ecuador’s latest tender, launched in July 2019, for the 200 MW El Aromo solar project. The facility will sell electricity to state-owned Corporación Eléctrica del Ecuador SA under a 20-year power purchase agreement.
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