Ecuador estimates 2011 hydro, wind power investments at USD 1.2bn
Sep 19, 2011 - Ecuador will have invested USD 1.2 billion (EUR 881m) in eight hydroelectric projects and one wind power project this year, electricity minister Esteban Albornoz said on Friday.
In 2011, Ecuador started developing major hydroelectric projects like the 1,500 MW Coca Codo Sinclair, the 253 MW Toachi-Pilaton and the 487 MW Sopladora, which will require combined investments of USD 2.8 billion, Albornoz said.
The other projects which will be partly financed this year are mid-scale hydroelectric undertakings and the 16.5 MW Villonaco wind farm.
Ecuador's power demand stands at 2,800 MW, which is met by local hydroelectric and thermoelectric plants and with imports from Colombia. Ecuador imports electricity because it is cheaper than the power produced by some local thermoelectric plants with imported fuel, the minister said.
(USD 1 = EUR 0.734)
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