Hydropower

Sinohydro Signs Contract to Build Ecuador’s Largest Hydropower Plant

Sinohydro, China’s largest dam builder, has agreed to build what will be the largest hydropower plant in Ecuador.

Under terms of the deal with Ecuador, Sinohydro will finance 85 percent of the 1,500-MW Coca Codo Sinclair project on the Coca River near the Colombia border. Ecuador will finance the remaining 15 percent through oil sales to China. The deal calls for Petroecuador to export about 2.8 million barrels of crude oil per month for two years.

The $2 billion project is expected to begin commercial production in 2014. Ecuador recently paid Enarsa SA $5.5 million for its 30-percent stake in the project. (HydroWorld 9/29/09)