Bolivia , Peru , Colombia , Ecuador and Chile
Press Release

Ecuador concretes IDB credit for the Ecuador-Peru interconnection, which will allow savings of USD 61 million per year

Bnamericas
Ecuador concretes IDB credit for the Ecuador-Peru interconnection, which will allow savings of USD 61 million per year

This Ministry of Energy and Mines release was published using machine translation.

The 500 kilovolt (kV) Electrical Interconnection between Ecuador and Peru will generate average annual savings for our country of approximately USD 61 million by avoiding the consumption of fossil fuels. This was reported according to a source from the Inter-American Development Bank (IDB), during the progress meeting of the Andean Regional Energy Integration Project, which was attended by the Minister of Energy and Mines, Xavier Vera Grunauer, and the Vice Minister of Electricity, Enith Carrión.

In the meeting that took place on October 24, in Lima - Peru, the regional authorities discussed the progress of the 500 kV Colombia - Ecuador - Peru Interconnection project, the possible interconnections between Peru - Chile, Peru - Bolivia and Bolivia - Chile and the importance of updating the roadmap to 2030 was analyzed, which will contribute with benefits for the region, in economic axes, hydrological complementarity and reliability of the electricity supply.

During the meeting and within the framework of the Andean Electric Interconnection System (SINEA), the authorities signed the Lima Agreement , to guarantee the energy sovereignty of the region. In the document signed by Ecuador, Peru, Colombia, Chile, Bolivia, members of the Regional Energy Integration Commission (CIER) and the Inter-American Development Bank, it is detailed that there is financing by Ecuador for USD 250 million, of which which the IDB is contributing with USD 125 million, while the European Investment Bank will contribute with USD 125 million for the Ecuadorian section.

It should be noted that the Andean Electric Interconnection System Initiative (SINEA) was born with the signing of the Galapagos Declaration on April 2, 2011, with the aim of promoting an Andean electric corridor through the construction of the necessary infrastructure for the regional electrical interconnection and for the creation of a regulatory framework that facilitates exchanges and transactions of electrical energy. It has the support of the Inter-American Development Bank, which thanks to its contingent has strengthened areas of regulation and execution of infrastructure. Ecuador currently exercises the Pro Tempore Coordination of SINEA to strengthen, in addition, aspects aimed at legal security and regional planning.

For his part, the Minister of Energy and Mines, Xavier Vera Grunauer, during his presentation, highlighted: “We must strengthen our regional exchanges, with the aim of complementing our natural resources in order to achieve energy sovereignty in the region with the optimal use of resources. ”.

He also pointed out: "The Government of the Meeting is aware that the strategic sectors are relevant in the country's economy, that is why it is committed and directs its public policies to direct Ecuador towards the ecological and energy transition."

Regarding the Andean Electricity Interconnection System, the Vice Minister of Electricity, Enith Carrión, indicated: "SINEA's technical teams work to advance actions that strengthen infrastructure issues, legal certainty, regional planning, among other aspects, that strengthen the Andean Regional Energy Integration Project”.

José Ramón Gómez, representative of the IDB in Ecuador, stated: “This is a historic project that marks a milestone in the region. In Ecuador and Peru, the authorities are committed to financing this program.”

Representatives from the Inter-American Development Bank (IDB), the Regional Energy Integration Commission (CIER) and the National Committees of Ecuador and Peru, ECUACIER and PECIER, respectively, participated in the regional meeting.

The National Government, through the Ministry of Energy and Mines, works in a committed manner so that the electrical interconnection is a palpable reality and to specify the interconnection of the electrical markets in the region.

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