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

• Spanish solar power developer Solarpack has actually signed a concession agreement with Ecuador's power and mining ministry for the 200-MW El Aromo solar farm it is due to construct and also operate in the South American country.

The finalizing, announced by the ministry of Sunday, came virtually two years after Solarpack secured the project in Ecuador's tender for new renewable resource plants. The honor qualified the company to a 20-year concession and a power purchase contract (PPA), which Solarpack priced at USD 69.35 per MWh to safeguard the win.

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

Ecuador's power ministry stated that Solarpack will spend USD 144.38 million (EUR 144.7 m) in El Aromo. The solar farm will be found in the province of Manabi. When the PPA runs out, the Spanish company will turn over the plant to the state.

Presently, the ministry is running a tender to award giving ins for 500 MW of new renewables. That competition brought in 37 business from 13 nations, the energy authority stated in May this year.