Energía 2000 increases its authorized capital stock to US$250 million

Energía 2000 increases its authorized capital stock to US$250 million; advances milestones in the development of its 414MW thermoelectric power plant

After concluding the year 2023 with important achievements and broad projections, the company Energía 2000, S.A., the promoter of the Manzanillo Power Land energy project, shows its main milestones in the development of its 414MW thermoelectric power plant, promoter of the Manzanillo Power Land energy project, exhibits its main milestones in the framework of its business evolution, headed by a significant increase in its authorized capital stock set at US$250,000,000, for a number of 250,000 shares of a nominal value of US$1,000 each, being subscribed a total of 166,822 nominative shares and consequently a fully subscribed and paid-in capital registered with the amount of US$166,822,000.

This key milestone in the financial management of Energía 2000’s resources was approved at its Extraordinary General Assembly on August 29, 2023, during which the then Chairman of the Board of Directors, Jaime Santana Bonetti, led the round of capitalization of the investments and contributions of the shareholders in favor of the project, with the intention of optimizing the company’s operations and guaranteeing the continuity of the construction, development and operation of the power plant. It is noteworthy that the total amount of the increase in subscribed and paid-in capital was contributed directly through equity investments, raising entirely private capital and reflecting the commitment of its shareholders to the success of the project.

Among the achievements during 2023, there are also relevant milestones in the development of the 414MW Manzanillo Power Land thermoelectric generation plant, such as the progress in terms of construction, with completely finished buildings such as local control rooms for the turbogenerators, control room and centralized command, sewage collection and treatment system, 295,000-foot tube well, ACC-Air Cooled Condenser structural piles and reinforced concrete foundation, and HRSG Heat Recovery Steam Generation structural piles and reinforced concrete foundation; Also, the construction and inauguration of the administrative building and the security and control building of Energía 2000, which will serve as a nerve center for the strategic coordination of all activities related to the plant’s operations.

Likewise, the high quality work carried out by Energía 2000’s strategic ally, the multinational Lindsayca, Inc, which in the performance of its functions as an Engineering, Procurement and Construction (EPC) company, has played a stellar role in the execution of the construction, enabling and development phases of the thermoelectric plant, guaranteeing not only compliance with the work schedule, but also adherence to national and international standards not only in terms of quality and safety, but also in terms of efficiency and sustainability.

Energía 2000 also highlights as important progress the successful arrival in the country of the gas turbines (SGT6-8000H of 269.1 MW) and steam turbines (SST6 of 144.1 MW), manufactured by Siemens Energy, which were received in the Dominican port through the Manzanillo Provisional Dock, built and inaugurated last August by the business group, to provide the necessary port infrastructure to load materials and equipment for the development of the power plant.

Additional Energía 2000 milestones

In addition to the economic impact of the resources invested in the development of Manzanillo Power Land, reflected in the company’s subscribed and paid-in capital after the capitalization completed in August 2023, there is also the execution and completion of important works related to the functionality of the power generation. These include the loading road to the Manzanillo Pier, the operation of the Manzanillo Temporary Pier, the completion of the Energía 2000 – Port of Manzanillo gas pipeline, as well as the reforestation and ecological restoration work in collaboration with the Moscoso Puello Foundation, as a guarantee of Energía 2000’s environmental responsibility.

Advances in the infrastructure of the Northwest Zone 345KV Transmission Line also form a central axis of progress in project management. To date, its construction is in its final stage, with a view to providing 115 kilometers of extension to connect the Pepillo Salcedo, Guayubín and El Naranjo substations, enabling the interconnection of Manzanillo Power Land to the National Interconnected Electric System (SENI), thus further strengthening the infrastructure necessary for the efficient distribution of the energy generated.

These achievements not only represent tangible progress, but also reflect the solid collaboration between the investors and the strategic partners in achieving success in their plans, while supporting the financial soundness of the Manzanillo Power Land project and the commercial company Energía 2000, which is increasingly positioning itself as a benchmark and leading player in the Dominican energy and business sector.

Source: CICOM

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Dominican Republic Live Editor

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