Ecuador in line for US$300mn in energy transition funds

IDB has placed a US$300mn loan in its pipeline of potential financing to support the energy transition in Ecuador.

Although the regional bank highlights public investment of US$10bn in the power sector over the past 15 years, it argues that the country still faces challenges.

The areas that require action include strengthening the framework to increase private sector participation, boosting the contribution of non-conventional renewable energies, green hydrogen and electromobility.

An important milestone was reached in recent days with the award of 500MW in NCRE concessions to local and international companies.

Also read National Government advances in the development of the Roadmap for the implementation of Green Hydrogen in Ecuador and Ministry of Energy and ANETA are committed to electric mobility in Ecuador

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In other sector news, studies for the construction of the 138/69kV Rio Bonito substation and associated lines are scheduled to begin this year.

Under a procurement process for shortlisted firms, state power distribution holding company CNEL has invited Engywork, Edenken and Proyecsa to submit offers by May 8 for the 350-day consultancy contract.

And state power corporation Celec reported that its transmission unit Transelectric has begun work (pictured) to overhaul the Durán substation that will shore up dispatch in Guayas province.

The overhaul is due to be completed at year-end and entails the installation of a second 230/69 kV, 225 MVA transformer, which will double the substation’s capacity.

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