Chinese Co. Commits $477M To Ecuadorean Hydro Plant

Law360, New York (January 06, 2012, 5:15 PM ET) -- Ecuador's state-owned electric utility and China's Harbin Electric Intl. Co. are teaming up to build a $477 million hydroelectric power plant in southeastern Ecuador, the country's renewable energy officials said Wednesday.

Corporacion Electrica del Ecuador, or Celec, and Harbin signed the agreement Dec. 30. The deal is the latest in a flurry of foreign money — mostly from China and Russia — to pour into hydro plants in the Andean country, where government officials say they want to double generating capacity by the end of 2012....
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