Proposal for an 824,86 MW photovoltaic plant in Manabí, Ecuador.

Abstract

A feasibility analysis was carried out for the implementation of an 824,86 MW photovoltaic plant in the area of ​​the failed “Eloy Alfaro” Pacific Refinery project in El Aromo, Manabí province, Ecuador. It will occupy 91,31% of the 530 ha allocated to the initial project and will cover a demand of 894,68 GWh projected over 10 years. With the RETScreen Expert software, three scenarios were analyzed, in all of them the profitability of the project is established. A simple return on principal payment was estimated ranging from 1,3 to 6,9 years, with projected annual net income from $ 77.023.928 to $ 557.364.599. That would generate a profit of 190,93% if the sale is made at a residential rate and 889,55% if it is marketed according to the sale price established in the regulation of CONELEC 004/11. With a projected cost of electricity generation of 0,045 USD / kWh as a minimum value considering 20% ​​incentives and donations; and a maximum of $ 0,054 / kWh without incentives. An emission reduction of 769.768,7 tCO2 was estimated, equivalent to 70,91% of the emissions of the automotive fleet of the province in 2019 and in barrels of oil represents a reduction of 14,92% in relation to the energy consumption of the sector residential electricity in 2019.

The proposal exceeds 4,12 times the minimum installed capacity of a plant to be built in the area in the coming years, requires an additional surface of 45,28% and would present 35,11% less than the cost of production per kWh and if implemented would be the one with the highest power nationwide and the third in Latin America.