Product: Project Finance / Financed with funds from the Investment Fund for the Development of Dominican Infrastructure I
Role: Financing Manager
Total cost project: USD 150MM
Financing Amount: USD 60MM
Ambiental Category: B
Impact: 172,805 People benefited by access to energy/year
Financial clousure: 2021
The project is in Puerto Plata, Dominican Republic, and was designed in two phases. The first phase, consisting of 16 wind turbines with an installed capacity of approximately 57,6 MW, entered commercial operation in May 2020 and had a net generation in the same year of 196.69 GWh. The renewable energy generated in 2020 by Phase 1 avoided releasing 122,262.50 tons of CO2eq into the environment and benefited approximately 121,750 people in the surrounding communities with clean electricity. The second expansion phase have an installed capacity of 46,8 MW and will be composed of 13 wind turbines, whose net generation in the future will have similar impacts per year to those described for Phase 1. Both phases will reach a total installed capacity of 104.4 MW, consisting of 29 Vestas wind turbines of 3.6 MW each.
Poseidón Energía Renovable S.A. is a company established in the Dominican Republic in 2004 by the French firms Inversiones Energía 3000 and Groupe Valorem, with the quality and experience of the sponsors being one of the project’s advantages. Poseidón has a single shareholder, Sellagic Investments S.R.L., an investment vehicle owned in equal parts by LAESA Ltd. and Los Orígenes Power Plant S.R.L. (LOPP)—holding 47.5% each—who together form Grupo Energético 23; the remaining 5% is owned by Mowry, a private investment.
