Ecuador to increase resiliency of energy sector with IDB guarantee

The Inter-American Development Bank (IDB) has granted a 77 million dollars guarantee to Ecuador that will boost private investment in non-conventional renewable energy sources, such as solar and wind, thereby diversifying the energy mix.

These 25-year term guarantees will benefit up to 12 investment projects, contributing with more than 820 MW of new installed capacity to the system. It is estimated that nearly 1 billion dollars in private sector financing will be mobilized.

In addition, the IDB will provide a 3 million dollars reimbursable technical cooperation program to strengthen the institutional capacity of Ecuador’s main energy regulatory agencies, particularly the Electricity Regulation and Control Agency (ARCONEL).