On July 30, 2019, the Ecuadorian State officially launched two new energy projects, with which, it seeks to encourage the production of renewable energy. These projects are: the wind power generation project called "Villanaco II y III" and the photovoltaic power generation project called "El Aromo", which will be granted in concession through public selection processes, in accordance with the Organic Law of Electric Power Public Service.
The "Villonaco II and III" wind power project is located at southern Ecuador, in the province of Loja and is expected to have a minimum installed capacity of approximately 110 MW. While the "El Aromo" photovoltaic power project, is located at the Ecuadorian coast in the province of Manabí and is expected to have a minimum installed capacity of approximately 200 MW.
With these projects, the Ecuadorian government seeks to attract private, national or foreign investors; willing to invest in the design, financing, construction, operation, maintenance and delivery of electric power service, for an estimated period of 25 years for "Villonaco II and III", and 20 years for "El Aromo". The investment, expected to be obtained by the Ecuadorian government is of approximately $200 million in each of them. These projects will benefit from several incentives for private investment, in accordance with the policy recently implemented by the Ecuadorian government.
With the official launch by the Ministry of Energy and Non-Renewable Natural Resources that will be in charge of these projects; the public selection processes that are expected to end with the signing of the respective concession contracts began. During the first phase promoting the projects, the preliminary documents where made available to the public, with the intention of receiving suggestions. Subsequently, the final documents will be published, with which the respective public selection processes will begin.
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