Overview
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 generated renewable electricity using hydroelectric resources and sold 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.
Benefits
The project assisted Ecuador in stimulating and accelerating the commercialization of renewable energy technologies at the grid level. Also, under private ownership and operation, the project reduced 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 contributed 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 offered additional energy, capacity and diversification benefits.