(C) Manifold Times

SEOUL – HD Hyundai Marine Solution announced on February 6, 2026, that it has secured a major contract to supply power generation engines and maintenance equipment to Ecuador’s state-owned power utility, Corporación Eléctrica del Ecuador (CELEC EP).

The deal, valued at $56 million (approx. 82.4 billion KRW), marks the largest single contract in the company’s history within the terrestrial power plant sector.

Addressing a National Energy Crisis
The agreement comes at a critical juncture for Ecuador. Historically reliant on hydroelectric power, the South American nation has been paralyzed by a prolonged and severe drought. With water levels at record lows, the country has faced rolling blackouts lasting up to 20 hours a day, crippling local industries and daily life.

To mitigate this disaster, the Ecuadorian government is pivoting toward thermal power to stabilize the national grid. HD Hyundai Marine Solution’s role is to provide the essential infrastructure to ensure these thermal plants remain operational and efficient.

Scope of Supply and Future Support
Under the terms of the contract, HD Hyundai Marine Solution will deliver:

Engine and auxiliary equipment maintenance packages for eight thermal power plants.
Support for a total capacity of 400 Megawatts (MW).
Technical assistance and rapid parts delivery to ensure the stabilization of the facilities by early next year.
"This contract is a testament to our technical reliability and our ability to respond quickly to urgent global energy needs," a company spokesperson stated. "We are committed to helping Ecuador overcome its energy deficit by ensuring their thermal power infrastructure operates at peak performance."

Market Implications
Industry analysts view this move as a significant expansion of HD Hyundai Marine Solution’s portfolio beyond maritime services. By successfully managing large-scale terrestrial projects, the company is positioning itself as a comprehensive energy solutions provider in the Latin American market.