Ecuador's Ministry of Energy and Mines (MEM) has allocated 120 MW of PV capacity in its latest 500 MW renewable energy auction, which was launched in December 2021. It originally preselected 345.3 MW of PV projects and accepted six bids for solar plants ranging in size from 3 MW to 50 MW.

For solar, five of the six participating developers proposed 60 MW projects. Intiyana submitted an offer of $0.049877/kWh and AMBI presented a bid of $0.049876/kWh. Imbabura Solar, Ñañapura, and Dominion offered $0.0535977/kWh, $0.05961/kWh, $0.066988/kWh, respectively. Esco As submitted a 60 MW solar project to sell power at $0.064985/kWh.

Only two of these projects were ultimately selected in the procurement exercise – Dominion's plant for $0.066988/kWh and Esco's project offer of $0.064985/kWh.

The MEM also allocated 150 MW of hydropower capacity, 200 MW of installed wind power, and 30 MW of biomass capacity. It said it will award 25-year PPAs to the wind and solar projects and 30-year deals to the hydroelectric facilities.