Ecuador just inaugurated the first of its eight planned hydroelectric power-generating dams. Taken altogether, the eight dams will generate nearly 2800 megawatts of electricity. The country’s focus on renewable energy is part of a long-term strategic vision to become an oil exporter, and this project is expected to save the country about US$3 billion in imports. However, with oil prices hovering around $50, there’s no word on whether its strategic vision remains economically viable.
