Spain's Solarpack signs concession for 200-MW solar project in Ecuador

Spanish solar energy developer Solarpack has signed a concession contract with Ecuador’s energy and mining ministry for the 200-MW El Aromo solar farm it is due to build and operate in the South American country.

The signing, announced by the ministry of Sunday, came nearly two years after Solarpack secured the project in Ecuador’s tender for new renewable energy plants. The award entitled the firm to a 20-year concession and a power purchase agreement (PPA), which Solarpack priced at USD 69.35 per MWh to secure the win.

Also offered in the tender was the concession for the 110-MW Villonaco wind project, taken by Spanish consortium Cobra Zero-E Villonaco.

Ecuador’s energy ministry said that Solarpack will invest USD 144.38 million (EUR 144.7m) in El Aromo. The solar farm will be located in the province of Manabi. Once the PPA expires, the Spanish firm will hand over the plant to the state.

At present, the ministry is running a tender to award concessions for 500 MW of new renewables. That competition attracted 37 companies from 13 countries, the energy authority said in May this year.

(USD 1.0 = EUR 1.003)

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