The plants are being built as part of government’s initiative to boost renewable energy in the country. The consortium includes companies such as Solexica Energy, JCM Capital and Radical Energy.
Power generated by the plants will be bought at $40.03 cents/KWh and distributed to the national electrical grid. The plants are expected to contribute about $200m to the local economy.
Solexica CEO Adam Hepworth said that the these projects combined will represent one of the largest construction-ready feed-in-tariff based solar PV plants in the Latin American region.
JCM CEO Christian Wray said that this initiative is a stimulant to the local economy and will help in reducing the current energy deficit in Ecuador.
