Ecuador, in cooperation with South Korea, is to promote the development of power generation projects totaling EUR1bn ($1.3bn), according to officials.
The goal is for Ecuador to develop a number of projects that were agreed between the two nations during a visit by Ecuador’s president, Rafael Correa to the East Asian nation, according to a report by Reuters.
One of the first projects is reported to be the construction of a wind farm that will generate up to 30 MW of electricity.
The project will cost in the region of EUR70m and be financed by Eximbank in South Korea.
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