44 Ecuadorian Clean Energy Projects Seek Funding

44 Ecuadorian Clean Energy Projects Seek Funding

In order to reduce pollutant emissions, the Ecuadorian government seeks in the carbon credits market, an alternative to finance various investment plans.

Daniel Ortega, head of climate change from the Foreign Ministry, said the goal of the local authorities is to ensure a flow of 250 million dollars a year for 10 years.

So far 16 state and private projects have received 25 million dollars. However, there are 44 other productive initiatives (public and private) that expect to be qualified by the United Nations (UN) to negotiate carbon credits.

Ingenio Valdez is one of the companies that already received funding this way. The proposal of power generation from bagasse was negotiated with the Government of the Netherlands. In this case, the Andean Development Corporation acted as an intermediary.

The local government held yesterday the first business meeting on clean development mechanisms along with German, Spanish, Dutch and Swiss investors as well as commercial members. Companies such as Mercury Energy, Endesa, Vattenfall and Less Carbon, also attended this meeting, all of these companies seek and monitor these kind of initiatives worldwide.

Within the domestic offers, 80% of them are hydroelectric projects: The Coca-Codo Sinclair, Hidrotoapi, Termopichincha, Enerjubones, Hidrosierra, Hidroimbabura, Hidroequinoccio Hidroforestal and made ​​their presentations.

State oil company Petroamazonas is working in the same kind of projects. Petroamazonas has two projects for the recovery of gas located in the Ecuadorian amazon region in order to generate electricity.  (BG)