Two bidders from Spain were awarded concessions to build and operate 310 MW of new wind and solar farms in Ecuador, the country’s ministry of energy and non-renewable natural resources announced on Tuesday following a more than a year long tender process.
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. Its compatriot Solarpackteam was awarded a 20-year concession to develop the El Aromo solar photovoltaic (PV) project.
Solarpack Corporacion Tecnologica SA (BME:SPK) confirmed the news in a separate statement on Wednesday.
The two companies outbid France’s Neoen SA (EPA:NEOEN) and Total Eren SA, which alongside the Spanish duo, emerged as the final bidders in October 2020. The call for tenders attracted international interest, with nine companies passing the pre-qualification round last year.
Cobra Zero-E and Solarpack presented the most competitive offers, the energy ministry said without giving details. According to Solarpack, all bidders submitted prices below USD 70 (EUR 57.7) per MWh. Solarpack secured its power purchase agreement (PPA) by offering USD 69.35/MWh, saying its price was the lowest.
The Villonaco wind farms will occupy two sites in Loja province and have a combined installed capacity of 110 MW. The 200-MW El Aromo solar farm will be installed in Manabi province at a site where solar radiation reaches 1,648 kWh per square metre per year, the energy ministry said.
The Ecuadorian government expects the new renewable energy projects to mobilise private investment of USD 400 million.
(USD 1.0 = EUR 0.825)
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