Ecuador lawmakers approve bill to boost private energy investment

28/10/2024 13:03

        Ecuador's national assembly on Sunday approved a bill proposed by President Daniel Noboa that seeks to expand direct private investment in the electricity sector as the nation faces a severe energy crisis with power outages of up to 14 hours a day.
        
        The bill sought to permit private investment in projects generating up to 100 megawatts, from the current allowance of 10.
        
        The legislation won unanimous backing from the legislature's 120 lawmakers, although some opposition members pointed out that the measure will not immediately solve the worsening crisis.