Ecuador begins the construction of hydroelectric project

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The government of Ecuador has announced the construction of a new hydroelectric megaproject in the southern zone of the country, with the contribution of European and Asian private investors, Europa Press reports.

The minister in charge of the coordination of strategic sectors, Rafael Poveda, announced this project, which is part of the Paute system, and which will be added to the eight hydroelectric plants already operating. “We are working since the last year in the execution of another large hydroelectric plant, but this time with the contribution of foreign private investment,” the minister stated.

“We are talking about projects amounting to $600 million, $1 billion and so on, required for the construction of this type of hydroelectric plants,” the minister pointed out, as the Ecuadorian news agency Andes reported. Poveda stated that this kind of project is within the National Electricity Plan, which construction requires five to six years to be completed.

Ecuador has implemented a change initiative for its energy matrix, with several specific projects such as the construction of eight hydroelectric plants, aimed to generate clean energy through renewable sources.

With the startup of the eight hydroelectric plants, the country will save $750 million thanks to the decrease of fuel consumption, according to governmental information.

Post by: Jorge Neri Bonilla

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