Ecuador's president, Rafael Correa, has officially inaugurated the 160-MW Mazar hydropower plant in the southern Azuay province, built with a nearly US$600 million (EUR452.8 million) investment.

The full-scale operation of the Mazar hydro plant, which was started up in June 2010, eliminates any possibility for power rationing in 2011, Correa said.

Mazar and the existing 1,075-MW Paute-Molino hydro plant, along with the planned Sopladora and Cardenillo plants, are part of a large hydro project on the Paute River.

The construction of Sopladora will probably start in the first quarter of 2011, Correa said. Ecuador is negotiating a loan with China's Export-Import Bank to finance the plant, he added.

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