Ecuador buys stake in 1,500-MW Coca Codo Sinclair project

Citing tough economic times, Argentina’s state-owned power company, Enarsa SA, has sold its 30-percent stake in Ecuador’s largest hydropower project.

The government of Ecuador paid $5.5 million for the stake in the 1,500-MW Coca Codo Sinclair hydro project on Ecuador’s Coca River, according to Ecuador officials.

Ecuador is expected to enter a deal with SinoHydro-Andes to build the plant. Sinohydro-Andes is a joint venture between China’s Sinohydro, which has an 89-percent stake, and Ecuadorian company Coandes, which has 8 percent. (HydroWorld 4/23/09)

Construction will take about five years. Upon completion, the US$2 billion, 10-unit project will use water from the Coca River near the Colombia border.

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