Developed by the Hidalgo & Hidalgo Company, the Sibimbe Hydroelectric Project is a 15-megawatt run-of-river hydroelectric plant located on the western slopes of the Andean Mountains. The project generates renewable electricity using hydroelectric resources and sells the generated output to Ecuador’s Wholesale Power Market through either spot market transactions or through power purchase agreements using the Transelectric transmission company to carry the energy.
The project assists Ecuador in stimulating and accelerating the commercialization of renewable energy technologies at the grid level. Also, under private ownership and operation, the project reduces GHG emissions while responding to increasing energy demand and energy diversification imperatives for Ecuador’s sustainable economic growth. Broadening private experience in the development, operation and maintenance of hydropower electricity generation contributes to the further strengthening of the operation of the wholesale market increasing competition levels and strengthening the market of bilateral and future contracts. At the sectoral level, accommodating smaller renewable resources offers additional energy, capacity and diversification benefits.
“With the Sibimbe hydro plant we accomplish our goal to be the first private investment plant to start operations in Ecuador,” said Juan Fsco. Hidalgo B. Executive President of Hidalgo e Hidalgo S.A., one of the largest construction firms in Ecuador. “This plant has demonstrated that 100 percent Ecuadorian funds, direct project design and an Ecuadorian labor force is indeed capable of implementing projects, even with our country’s current economic difficulties. This example will inspire other sponsors to initiate other hydro projects in the country, and with the help of the World Bank and the carbon fund, we feel there is still much to be done in this area.”
¹Project descriptions are current as of project inception.