Canadian Consortium signs 50 MW PPA in Ecuador

Canadian Consortium signs 50 MW PPA in Ecuador

17.01.2013: A Canadian consortium formed by Solexica Energy Corporation, JCM Capital and Radical Energy Inc. has signed a Power Purchase Agreement (PPA) with the Ecuadorian energy authority Consejo Nacional de Electricidad de Ecuador (Conelec). Under the terms of the agreement, the consortium will buy the electricity produced from several PV power plants to be developed in Ecuador with a combined capacity of 50 MW. According to the Ecuadorian legislation for renewable energies, issued in May 2011, the generated power from these plants will have a purchase price of $0.403 per kWh for the next 15 years and will be fed into the national grid. After the government’s introduction of a new incentive program, several projects have been approved by Conelec, among others, for Spanish module producer and project developer Solaria Energía y Medio Ambiente SA, in April, and for Spanish solar company Isofotón SA, in November. The approval of 17 PV projects with a combined capacity of 272 MW has been recently announced by Conelec. Source: JCM Capital http://www.jcmcapital.ca http://www.jcmcapital.ca/newsandmedia.php

 

 

Monty Bannerman

ArcStar Energy

646.402.5076

www.arcstarenergy.com