International court rules in favor of BNDES
- Escrito por Ana Lourdes Alvarenga
In 2008, after one year of operations this hydro was shut down due to operational problems with the turbines. Ecuador’s President Rafael Correa accused Odebrecht of “construction errors”, while the firm alleged that the irruption of a nearby volcano had cast rocks into the water close to the turbines. Correa threatened to default of this BNDES loan. This posture caused Brazil to recall its ambassador for two months.