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Ecuador gets USD 312.5m loan from China for hydroelectric project

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04/11/2013

(SeeNews Debt) – Apr 11, 2013 – Ecuador has signed a USD 312.5 million (EUR 239.1m) loan with the Export-Import Bank of China for the Minas-San Francisco hydroelectric project of 270 MW located in southern Ecuador, the Ecuadorian government said yesterday.

The project will cost a total USD 477 million, of which nearly USD 90 million has been invested until now. The plant, built in Azuay and El Oro provinces, should operate in December 2015 and produce 1,290 GWh annually, the ministry of strategic sectors said.

The plant will replace costly and inefficient thermal power generation and will reduce carbon dioxide (CO2) emissions by nearly 700,000 tonnes a year.

(USD 1 = EUR 0.765)

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Taken from HydroWorld: http://www.hydroworld.com/news/2013/04/11/ecuador-gets-usd-312-5m-loan-from-china-for-hydroelectric-project.html

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