Spanish Companies Win 310 MW Ecuador RE Auction

• Ecuador's 310 MW renewable energy auction for solar PV and wind power capacity has been concluded
• The Energy Ministry selected Spanish companies for offering the most competitive offers including Solarpack for the solar project
• Solarpack offered $69.35 per MWh as the winning bid to win the solar project under the auction and plans to bring it online by the end of 2022

The Ecuadorian Ministry of Energy and Non-Renewable Natural Resources has announced the winners of its 310 MW renewable energy auction selecting Spanish bidders for 110 MW wind and 200 MW solar power capacities for offering the most competitive offers for the tender launched in August 2019 (see 310 MW Renewable Energy Tender In Ecuador).

Of the 22 companies from 10 nations that submitted expression of interest for the 310 MW capacity, of which 19 were for the El Aromo Solar PV Project, the ministry has selected Solarpack Corporación Tecnológica, S.A. to develop the PV plant in Manabi province. Solarpack says it offered the winning bid of $69.35 per MWh 'slightly below the prices offered by the rest of the bidders, who all offered prices below $70.00 per MWh'.

Solarpack gets a 20-year power purchase agreement (PPA) for the 258 MW DC/200 MW AC project including construction time. It will now go ahead with the development, financing and construction of the project which on completion by the end of 2022 will generate close to 340 GWh annually.

The Energy Ministry said, "With the development of the Villonaco II and III and El Aromo projects, the National Government boosts the potential that the country has to take advantage of non-conventional renewable energies. The development of these projects is a sign that the country has clear rules and an adequate legal framework to attract new private investments that allow the development of new electricity generation projects."

The 110 MW wind power capacity will be developed by the Spanish consortium of Cobra Zero-E Villonaco.

There are other solar PV tenders that the Energy Ministry has been working on including a 14.8 MW solar PV and 40.9 MWh energy storage project for Galapagos Islands for which it shortlisted 5 bidders in August 2020 (see Ecuador Solar & Storage Tender gets 5 Bidders).

In September 2020, Ecuador launched a 200 MW renewable energy tender including 60 MW solar PV capacity to be developed in Santa Elena or Guaya provinces with potential to scale up the capacity in the future (see 200 MW Renewable Energy Tender In Ecuador).