The Ecuadorian Ministries of Energy and Non-Renewable Natural Resources, and Production, Foreign Trade, Investments and Fisheries, together with the National Electricity Corporation, CNEL, signed an agreement that will invest $300 million to improve the energy efficiency of the aquaculture sector and rural areas in the coastal provinces.

The agreement, which will last for two years, will ensure compliance with the Electrification Plan for the Shrimp Sector, which is financed through loans with the Inter-American Development Bank (IDB) and the Development Bank of Latin America (CAF) and a counterpart from the Ecuadorian State.

The goal is to boost the productivity, export, energy efficiency and marketing opportunities of more than 2,300 shrimp companies in the provinces of Guayas, El Oro, Manabí, Esmeraldas and Santa Elena. The Minister of Energy, René Ortiz said that “the electrification of more than 15,000 hectares of the shrimp sector, where 526 companies are based, will begin in the coming months.”