Ecuador Dedicates $300mn To Coastal Electrification Plan

(Energy Analytics Institute, 18.Mar.2021) — Ecuador’s Ministry of Energy and Non-Renewable Natural Resources (MENNR) as well as the country’s Ministry of Production, Foreign Trade, Investments and Fisheries, together with the National Electricity Corporation (CNEL) signed an inter-institutional agreement to allow for investment of approximately $300mn on works to improve the energy efficiency of the aquaculture sector and rural areas in coastal provinces.

The agreement will last for two years and will ensure compliance with the electrification plan for Ecuador’s shrimp sector, which is financed through loans with the Inter-American Development Bank (IDB) and the Development Bank of Latin America (CAF), and a counterpart of the Ecuadorian state, the MENNR announced 18 March 2021 in an official statement.

The goal of the agreement is to boost productivity, exports, energy efficiency and marketing opportunities for more than 2,300 shrimp companies in the provinces of Guayas, El Oro, Manabí, Esmeraldas, and Santa Elena.

The agreement is also expected to benefit more than 6,500 families in rural communities near the shrimp farms through the adequate supply of electricity.

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By Piero Stewart. © Energy Analytics Institute (EAI). All Rights Reserved.