Spanish developer Solarpack Corporacion Tecnologica SA (BME:SPK) on Wednesday confirmed that it has secured a 20-year concession to build and operate a 200-MW solar farm in Ecuador.
On Tuesday, Ecuador’s ministry of energy and non-renewable resources announced the results of the tender process to award concessions for new renewable energy infrastructure, in which the only other winner was another Spanish outfit. Consortium Cobra Zero-E Villonaco, part of Spanish construction engineering group ACS (BME:ACS), secured a 25-year concession for the Villonaco II and III wind projects totalling 110 MW.
French companies Neoen SA (EPA:NEOEN) and Total Eren SA were also in the race, but lost to the Spanish duo in the final round.
Solarpack said it had submitted the most competitive price to secure a 20-year power purchase agreement (PPA) for the El Aromo solar project. Its price of USD 69.35 (EUR 57.2) per MWh was just slightly below what other participants offered. According to the company, all bidders offered prices that were below USD 70/MWh.
The El Aromo solar farm is scheduled to commence operation by the end of 2022. Solarpack expects the plant to generate around 340 GWh per year.
Once the PPA expires, Solarpack will return the solar farm to the Ecuadorian state.
(USD 1.0 = EUR 0.825)
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