In order to find friendly and effective solutions to overcome open problems in the construction of the Coca Codo Sinclair hydroelectric power plant, representatives of PowerChina International Group Limited, parent company Sinohydro, the power plant builder, were received by the Minister of Energy and Minas, Fernando Santos.

During the meeting they held, the international company indicated that they are looking for solutions to overcome the open problems in the construction of Coca Codo Sinclair. “We are looking for solutions to solve the problems as soon as possible and to make the plant safe and operational,” said PowerChina’s president, Dr. Chen, in the dialogue.

For his part, the head of the Energy and Mining portfolio pointed out that he wants “the plant to function properly and the problems to be solved, ensuring that the largest plant in the country works in an efficient manner to guarantee a constant supply of electricity.” country, within the highest standards of reliability.”

Celec is looking for investment banking to monitor negotiations with PowerChina for Coca Codo Sinclair

The executives’ visit was scheduled for March this year, but their arrival in the country was postponed after learning that the prosecutor’s office opened a case for alleged bribery in connection with the construction of the power plant, the price of which for Ecuador is about 3.2 billion dollars. The minister then indicated that the company’s representatives were worried and did not understand the extent of the process, however, after explaining that these were separate matters, they were again invited to come to the country for an interview and in this way try to improve the situation in the plant, which presents a series of problems due to construction defects and natural causes.

Threatened infrastructure, an arbitration claim against Sinohydr and negotiations with China that have been diluted are the main challenges facing Coca Codo Sinclair

The General Manager of the Electric Corporation of Ecuador (Celec EP), Gonzalo Uquillas, also participated in the meeting that took place on Friday, September 8; and the deputy production manager of the business unit Coca Codo Sinclair (Celec EP), Jorge Goyes, according to a press release from the Ministry of Energy and Mining.

The construction of the hydropower plant, located between the cantons of El Chaco and Gonzalo Pizarro, in the provinces of Napo and Sucumbíos, began in July 2010. Its official opening was held on November 18, 2016.

According to the state portfolio, the plant has contributed a net energy of 46,786.1 gigawatt hours (GWh) to the national interconnected system from April 2016 to date.