Solar energy solutions provider Isofoton has signed an agreement with the National Electricity Council of Ecuador (CONELEC) to construct a 50MW photovoltaic plant in the country.
Located in the parish of Calderón, the project signifies the first plant to obtain planning permission in the current system of premiums on the feed-in tariff in the country and will entail a total investment of $100m.
The plant is estimated to produce 84,093MWh clean energy per annum, enough to power 84,000 households and displace 49,000 metric tons of annual CO2 emissions.
CONELEC executive manager Francisco Vergara sought to reaffirm their confidence in the company’s ability that stemmed from its expertise in delivering European technology to promote the country’s sustainable energy model.
Isofoton CEO Ángel Luis Serrano added, “This plant in Ecuador reaffirms ISOFOTON’s strategy to develop photovoltaic products in emerging markets, which are developing the demand that will lead the photovoltaic market in the next ten years.”
The project expand’s Isofoton photovoltaic portfolio in Latin America with plans afoot to grow further.