SDE has already been invited to Ecuador by the minister of renewable energy and electricity to introduce its unique technology.
In the invitation the government of Ecuador states that it has a "special interest" in building sea wave power plants in different sites around the Galapagos Islands, including near Isla Santa Cruz, Isla Isabela, Isla San Cristobal, Isla Baltra and Isla Floreana.
Furthermore, The Ecuadorian government has indicated that it iss willing to finance 60 percent of the costs of building a sea wave power planet, and to enter into a PPA of 15 years. In a written statement, SDE said it is now in search to finance the remaining 40 percent.
Ecuador's Ministry of Electricity and Renewable Energy (MEER) has also shown an interest in building clean power plants on the main land, in sites like Jaramijo, where it is planned to construct a 15 MW power plant that can grow to 100 MW.
Shmuel Ovadia, SDE's CEO, said that he is hoping his company'stechnology will lead to significant reductions in electricity costs in areas it will be operated, where the production costs are only 0.2cents per kw/h.
In recent years, Ecuador has taken several steps to encourage domestic production of electricity from clean, renewable sources.
The local council of electricity, the Conelec, has created special tariffs for buying electricity coming from clean energy sources, that can rise up to 40 cents per one Kw/h.
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