FBPH assists Solarpack in concession in El Aromo project
Ecuadorian law firm Flor Bustamante Pizarro & Hurtado has assisted the Spanish company Solarpack in the negotiation and subscription process of the first large-scale renewable energy concession contract in relation to the El Aromo Photovoltaic Project.
El Aromo has an estimated investment of more than USD 150 million. The photovoltaic plant will be located in the Manta canton, Manabí province and will generate 200MW of clean energy, as well as more than 700 jobs during its construction phase and a mitigation of 221 thousand Tm CO2 per year (equivalent to 26 MM gallons of diesel per year) by avoiding the use of thermogenerator stations.
This transaction marks the first large-scale project to be developed entirely by the private sector in Ecuador, allowing the country to continue compliance with the NDC and the climate change goals of the Paris Agreement.
FBPH’s team consisted of partners Agustín Hurtado (pictured left) and José Cisneros (pictured right), and associates Alejandro Pérez, David Cruz and Julio Olmedo.
