Ecuadorian firm Hidrosanbartolo secured the said financing for the run-of-the-river project that includes three turbines, an electrical substation and a 42-Km transmission line and is expected to generate about 350,000MWh annually.

The approved investments includes a loan from the IIC of about $10m and the other loans accounting to $26.4m to be funded by other financial partners.

Total cost of the project is pegged at over $76m.

Commenting on the investment IIC lead investment officer in charge of the operation Javier Hernández remarked that the project will have a positive economic impact on Ecuador’s economy.

By providing a low-cost source of renewable energy generation the project will also help reduce the effects of climate change, said Hernández.

"In addition, the plant will help balance supply and demand for low-cost electric power and provide jobs for the region."

 

 

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