On March 9, 2026, the Ecuadorian Ministry of Environment and Energy (“MAE”) introduced the Public Selection Process (bidding process) (“PPS”) for the Combined Cycle Block I-400 MW. The resulting concessionaire will be the company (or the joint venture) that, upon having approved the legal and technical requirements, has submitted the most viable economic option.

This process is structured for the design, financing, construction, commissioning, maintenance and operation of a power generation plant and its associated transmission system. The project, which is expected to produce 400MW, will be located in the coast (El Oro and Guayas province). The combined cycle of the plant will be of steam turbines and natural gas turbines, with both revertible and non-revertible assets to the State at the end of the project. The term of the concession (operation and maintenance) will be 21 years, and its estimated budget is USD 838 million (CAPEX) and USD 201 million (OPEX). The income structure includes (i) fixed availability charge, (ii) variable charges associated with fuel, and (iii) variable charges not associated with fuel.

Below, you can find a general timeline for the bidding process: