The Abanico Hydroelectric Project, developed by Hidroabanico S.A., is located in the southeastern region of Ecuador, in the Morona Santiago Province. Abanico aims to generate clean power, produce employment in an economically depressed zone, replace the use of current polluting form of energy, and improve the efficiency and competitiveness of some Ecuadorian industries. The project will result in emission reductions from the displacement of a combination of fossil fuel based capacity that would otherwise be generated and dispatched in Ecuador.
“We are proud to be the project developer for one of the two first Ecuadorian projects participating in the CDM and signing an agreement for selling emission reductions in Ecuador,” said Mr. Pablo Teran of Hidroabanico S.A. “Abanico is among the first private hydroelectric plants ever built in Ecuador and, carbon finance helped make it happen.”
The Abanico project will also generate additional economic, environmental and social benefits. Over its lifetime, the project will displace about 8 million gallons of diesel generation from old, obsolete thermal plants; help create 250 direct jobs and 2,000 indirect jobs during construction phase in one of the most economically depressed regions of Ecuador; provide a reliable water supply from the Abanico River to the city of Macas, through a 15 kilometer canal to be built under the project, saving US$3 million in municipal investment in water infrastructure; and help to stabilize the national grid, since the project delivers power to the “tail” of the grid.
¹Project descriptions are current as of project inception.