Arlington, VA – The U.S. Trade and Development Agency is advancing a key Western Hemisphere partnership by supporting Ecuador’s efforts to attract private sector investment in power generation and bolster its energy security. Today, USTDA signed an agreement with Ecuador’s Agency for the Regulation and Control of Electricity (ARCONEL) to fund technical assistance that will develop recommendations for regulations and procedures building on recent legal reforms that have opened the door to greater private sector participation in the sector.
“USTDA’s assistance will translate Ecuador’s legal reforms into clear, actionable regulations that give investors the confidence they need,” said Thomas R. Hardy, USTDA’s Deputy Director. “This support will strengthen an existing and vibrant economic relationship between the United States and Ecuador, opening new opportunities for U.S. companies while helping Ecuador build a reliable energy supply.”
ARCONEL has selected Massachusetts-based The Innovation Network, LLC, a U.S. firm with expertise in the energy sector and related technologies, to carry out the technical assistance. The work will assess Ecuador’s current energy regulatory landscape, review international best practices, and conduct targeted workshops to develop recommended regulations and an adoption roadmap. Implementation of the study’s findings is expected to create opportunities to deploy trusted U.S. goods and services, including power generation equipment, grid technology, and cybersecurity solutions.
Augusto Fabricio Porras Ortiz, Acting Executive Director of ARCONEL said: “This technical assistance will enable Ecuador to strengthen its regulatory framework with a long-term vision, incorporating best practices, innovation, and technological solutions to address emerging challenges in the electricity sector. USTDA’s support will serve as a catalyst for translating this specialized knowledge into regulatory instruments that facilitate new investment, the addition of new generation capacity, and greater system security and resilience. We particularly value the experience and technological capabilities of U.S. companies and the opportunity to connect these capabilities with the needs of Ecuador’s electricity sector.”
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The U.S. Trade and Development Agency is the U.S. government’s first mover on critical infrastructure development in emerging markets, advancing the shared strategic priorities of the United States and our overseas partners while creating opportunities to deploy trusted U.S. solutions. USTDA funds the upfront technical work that accelerates the development of infrastructure projects, helping them attract the financing they need for implementation and procurement of U.S. goods and services.
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