Ecuador has signed a deal with China’s Sinohydro to build a $2bn hydroelectric plant in the South American nation, officials have announced.

The 1,500MW facility, which will be 85% financed by China’s Exim Bank, should be Ecuador’s biggest when completed.

It is also expected to deliver 60% of the Equador’s power, the Electricity Ministry said.

Quito will pay for the remaining 15% with oil sales going to China.