First device registered in Ecuador
The Hidroabanico hydroelectric project with a 37.5 MW installed capacity is located in the southeastern region of Ecuador, 15 kilometers from the city of Macas (Morona Santiago). It is a run-of-the-river hydroelectric plant without a reservoir, which controls the excess flow through the spillway and bottom drains and is the first I-REC(E) registered device in Ecuador.
Ecuador was approved for I-REC(E) issuance in April 2022 with GCC approved as I-REC(E) Issuer until a suitable local organization is identified. Electricity generation in Ecuador is largely characterized by hydroelectricity, with 85.41% of the country’s electricity being produced by this source in 2022 However, new capacity is expected to be mainly from wind and solar power in the next decade.
Whilst Ecuador already has a lot of hydroelectric generation, this first I-REC(E) device registration shows sustained renewable energy potential and the future developments of the I-REC(E) market in Ecuador.