Ecuador's 500-MW renewables tender meets capacity, price targets

Bidders in Ecuador’s international tender for the construction and operation of 500 MW of renewables have submitted economic offers below the ceiling price that, if finally accepted, could lead to around 511 MW of new capacity for the South American country.

The ministry of energy and mining’s technical committee on Wednesday opened the envelopes containing economic offers placed by ten companies from different countries. All of them priced their projects below the cap which was set as follows: USD 52.44 (EUR 48.43) per MWh for hydro power, USD 61.12/MWh for wind, USD 67.79/MWh for solar and USD 45.59/MWh for biomass, the ministry said.

In November 2022, ten unnamed bidders presented technical offers for what amounted to around 700 MW of capacity.

In this tender, the ministry offered concessions for 150 MW for small-scale hydro, 200 MW for wind power, 120 MW for solar PV and 30 MW for biogas or biomass-based plants. According to the ministry’s latest announcement, there were no bids placed for biomass. The remaining offers add up to a total of 511.31 MW and a possible average power production of 1,886 GWh per year.

The technical committee will release its recommendation for awards on February 1, 2023.

The list of bids so far can be seen below:

(USD 1.0 = EUR 0.923)

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