The US International Development Finance Corporation is preparing to finance the largest solar energy project in Ecuador in Latin America.
The government agency will provide a $144 million loan to solarumo, a special-purpose company created for the development of the El aromo 200 MW park.
Information on the project indicates that the total amount of funding from all sources is 192 million dollars.
“The additional energy supply will help meet Ecuador’s growing energy needs, which is currently largely consolidated around hydropower with most of the remaining generation from fossil fuels,” The US International Development Finance Corporation said.
“This project is the first large-scale solar energy project in Ecuador, demonstrating the financial and operational feasibility of solar energy projects in the country,” The US International Development Finance Corporation added.
