Hydropower station concessions were sold

Investors are concerned about the sale of Sopradora hydropower station, the Ministry of Electric Power said the government to sell state-owned assets is no longer a matter of urgency, or temporarily shelved the sale of the power plant franchise. 

The Sopradora hydropower station is the second largest existing hydropower station, built in August 2016, the total installed capacity of 487 MW. 

At the beginning of last year, the international crude oil prices fell to the bottom, coupled with 4.16 earthquake reconstruction task arduous, great financial pressure, in the case of limited financing channels, President Correa said to consider the sale of Sopradora hydropower station, Manduriacu hydropower station, Airlines (TAME), Pacific Bank and a number of state-owned assets. 

Subsequently, the Ministry of Electricity announced the sale of Sopradora hydropower station 30 years of franchise, and with some interested enterprises were discussed.

The government plans to build even bigger hydropower plants

But the Election of dust settled, political stability, the international market oil and other commodity prices gradually stabilized, the trend of economic recovery is obvious, the Eritrean government forecast this year, the economy will be out of recession, an increase of 1.4%. 

The Ministry of Electricity says the government has the capacity to obtain sufficient liquidity from other sources, so the demand for the sale of state assets is not urgent. However, the Ministry of Electricity has not yet clear whether to continue selling Manduriacu hydropower station.

During the ten years of Coria's tenure, the construction of infrastructure such as the Ealing Hydropower Station has achieved rapid development. 

The total number of hydropower stations completed and completed is about 8, with a total investment of 11.3 billion US dollars. This has greatly improved the supply of electric power and has been completed. Of the Xincare hydropower station, the power in addition to meet domestic demand, but also delicious Colombia, 2016 exports amounted to 40 million US dollars. 

The Ministry of Electricity said the government plans to build a larger Caldé Nuoyo hydropower station with a capacity of 3,500 megawatts, twice the size of the existing largest hydropower station. For how to continue to sell the original state-owned assets, remains to be seen.