CDB loan to construct Esmeraldas II Thermal Power Plant (Linked to Project ID#69319)

On 29 November 2011, the National Electric Power Company of Ecuador (CELEC) and Harbin Electric (formerly Harbin Power Station Engineering) signed a contract for the second phase of Esmeralda II, a 96MW Thermal Power Plant in Quito (also referred to as Termoesmeraldas). The project was funded through a 2011 China Development Bank loan of $2,052,360,403.03 (Project ID#35930), specifically through the $1.4 billion discretionary component (Tranche A; Project ID#69319). The loan terms of Tranche A have been applied to this project. The total contract cost of the project is worth $101.4 million. A source from the General Secretariat of Communication of the Presidency states that the loan from CDB covered 70% of the total cost. On 1 February 2012, construction began on the project. The project is located 7.5 kilometers from the capital of the province of Esmeralda on the northwest coast of the country. Esmeraldas II (also called the Esmeraldas II Fuel Oil-Fired Complex) began operating in August 2014, before work was completed. On 5 August 2014, then-president of Ecuador Rafael Correa presided over the inauguration of the Esmeraldas II Thermal Power Plant.

Additional details

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

Number of official sources

7

Number of total sources

10