SAISC Thermal Power Plant

active

Sociedad Agrícola e Industrial San Carlos S.A., a sugar mill company, initially started producing electricity using sugar cane residue as fuel solely for its own needs. In 2004, the sponsor decided to increase its capacity to 35 MW. The expansion allowed that the company started exporting part of the electricity generated at the plant to the national grid (15 MW). The expanded facility, located at Coronel Marcelino Mariduena (Guayas province) commenced operations in July 2005. The sponsor financed the investment with carbon credits. The investment directed to this expansion was not available. In 2013, the sponsor announced an additional expansion of the power plant capacity to 43 MW. The investment was estimated at US$ 49 million. In June 2013, the IIC approved a US$ 8 million loan to finance the expansion of the power plant's capacity.