ISOFOTON signs Equador project agreement
ISOFOTON and the National Electricity Council of Ecuador (CONELEC) have signed an agreement that enables the construction of a 50 MW photovoltaic plant in Ecuador, the first and only one to date to obtain planning permission in the current system of premiums on the feed-in tariff in the country. The project involves an investment of around 100 million dollars.
The agreement was signed in the presence of àngel Luis Serrano, the CEO of ISOFOTON, representatives of Desarrollos Fotovoltaicos de Ecuador, the ISOFOTON subsidiary in the country, and Francisco Vergara, Executive Manager of CONELEC. According to àngel Luis Serrano "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". On behalf of CONELEC, Francisco Vergara, the Executive Manager, highlighted "the confidence arising from the experience of ISOFOTON, which is providing cutting-edge European technology to promote Ecuador's sustainable energy model".
The solar facility will be in the parish of Calderón, 10 km from Quito. The construction phase will employ 500 people. The plant will have a nominal power rating of 49.6 MW and a peak rating of 54.065 MWp, making it one of the largest in Latin America both in terms of size and production capacity. The benefit for the environment will also be substantial; it will generate 84.093MW/hour of clean energy, equivalent to the consumption of 84,000 households, reducing CO2 emissions by 49,000 metric tons/year. The agreement authorizes the plant's construction and operation and guarantees that the State will buy power according to conditions established by the Feed-in Tariff, a procedure that fosters the development of Renewable Energy sources.
This new Ecuadorian project is also linked to a Corporate Social Responsibility plan. ISOFOTON will improve the area's infrastructure and access to the photovoltaic plant as well as supplying clean energy to a health center and a school. Training and qualification agreements for employee training have also been reached with the Ministry of Industry and Productivity.
