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Overview

CDB loans $41.6 million for Mazar-Dudas Hydroelectric Plant (Linked to Record ID#35930, #69319)

Commitment Year•2011Country of Activity•EcuadorDirect Recipient Country of Incorporation•EcuadorSector•EnergyFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2011
End (actual)
Apr 30, 2015
First repayment (originally scheduled)
Dec 31, 2012
Last repayment (originally scheduled)
Dec 30, 2018

Geospatial footprint

Map overview

Visualizes the AidData-provided feature geometry for this project.

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The purpose of this project was to construct the Mazar-Dudas hydroelectric plant in Canar Province, which consists of three smaller plants: Central Alazán (6.23 MW), Central San Antonio (7.19 MW), and Central Dudas (7.40 MW). More detailed locational information can be found at https://www.celec.gob.ec/hidroazogues/proyecto/hidroelectrico-mazar-dudas and https://www.openstreetmap.org/way/320896715, https://www.openstreetmap.org/way/286787308, https://www.openstreetmap.org/node/2280199499

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Policy Banks

  • China Development Bank (CDB)

Receiving agencies

Government Agencies

  • Government of Ecuador

Implementing agencies

Government Agencies

  • Government of Ecuador

State-owned companies

  • China National Electric Engineering Co., Ltd. (CNEEC)

Loan description

CDB loans $41.6 million for Mazar-Dudas Hydroelectric Plant

Grace period•2 yearsGrant element•9.8429%Interest rate (t₀)•7.159%Interest type•Fixed Interest RateMaturity•8 years

Narrative

Full Description

Project narrative

In 2011, the China Development Bank signed a 41.6 million USD loan agreement with the Ecuadorian government to construct the Mazar-Dudas Hydroelectric plant. According to a Boston University publication and “Resource-Backed Loans: Pitfalls and Potential”, this project was funded through a 2011 China Development Bank loan of $2,052,360,403.03 (Record ID#35950), specifically through the $1.4 billion discretionary component (Tranche A; Record ID#69319). The loan terms of Tranche A have been applied to this project. While the estimated original costs were 50 million USD, the estimated final costs were 83 million USD. The China National Electric Engineering Co. (CNEEC) implemented the project, and it was completed on April 30, 2015.

Staff comments

This project is funded through Tranche A of the 2011 $2 billion CDB loan (Record ID#69319). To ensure we are not double-counting Chinese OF, the transaction amount field is left empty. The amount is captured in Record ID#69319.