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Ecuador’s power grid aims high for 2018

Ecuador’s power grid aims high for 2018

Posted by PanamericanWorld on February 20, 2014

Following years of importing electricity from Colombia due to a recurrent deficit in energy production, Ecuador plans to move forward towards a new productive matrix by consolidating a strong energy grid that makes industrial diversification possible. With the development of major works in electricity generation (mainly hydroelectric), road and air transport, as well as significant oil & mining projects, the government is determined to attain its strategic goals by 2018.

These statements were made in the latest National Energy Balance, which shows that the country overcame its energy deficit in 2007 to become an important exporter, mainly of oil. Electricity supply more than doubled in a decade, from 11,944 GW in 2002 to 23,086 GW in 2012. Hydroelectricity accounts for 53% of the electric energy generated locally, while thermal sources represent 45%, renewables hold a 1% share and the remainder comes from interconnections with Peru and Colombia’s grids.

Since 2007, the nation has invested US $4,900MM in its electricity grid, necessitated by a doubling of consumption in the last decade, from 7,904 GW in 2002 to 19,377 GW in 2012. As only 30% of Ecuador’s hydroelectric potential has been developed, eight major projects underway will allow the country to cover nearly 93% of consumption with cheap and clean hydroelectric sources by late 2016. The Pacific Refinery, a steel plant, and their spillovers in petrochemical industries will together bring about changes in 2018.

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