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Canadian consortium to buy electricity from 50 MW solar PV projects in Ecuador

CTBR Staff Writer Published 16 January 2013

A consortium of Canadian renewable energy developers has inked a 20-year concession agreement with Conelec for the purchase of electricity generated by the combined 62.5MWp PV (50MW) power facilities in the Republic of Ecuador.

The facilities are being developed as part of government support for renewable energy. The consortium includes Solexica Energy Corporation, JCM Capital and Radical Energy.

Electricity generated by the plants will be purchased at $40.03 cents/KWh and distributed to the national electrical grid.

The plants are expected to contribute about $200m to the local economy and provide approximately 400 construction jobs.

Solexica CEO Adam Hepworth said that the these projects combined will represent one of the largest construction-ready feed-in-tariff based solar PV facilities in Latin America.

JCM CEO Christian Wray said that this initiative is a stimulant to the local economy and will provide much needed supplement to the current energy deficit in Ecuador.