Grupo Energético 23 (GE23) and STOA S.A. (STOA), announced STOA’s investment in Poseidon Energia Renovable, S.A. (PER). (PER), the company in charge of the development, financing and active management of the 100 MW Los Guzmancito Wind Farm, located in the municipality of Luperón, Puerto Plata.
Following this investment, Los Guzmancito Wind Farm will be expanded with 13 additional turbines for an investment of US$128 million.
The expansion of the project began after the National Energy Commission (CNE) granted the Definitive Expansion Concession and a ceremony attended by President Luis Abinader.
Roberto Camino, managing partner of GE23, indicated that the expansion will imply the creation of dozens of permanent jobs and thousands for construction.
“This project, established to the highest environmental and social standards, will contribute greatly to local economic development,” added Jean-Pierre Barral, deputy executive director of STOA.
Roads will also be created to mountainous and coastal terrain to benefit nearby cruise ship tourism. Schools, churches, sports facilities, and pumps for running water and irrigation in the community of Guzmancito will also be restored.
The first phase of the 48.3 MW project was first commissioned in December 2019 with 16 Vestas turbines, at a hub height of 132 meters, reducing greenhouse gas emissions by about 235,000 metric tons per year.
The expansion of the project also involves the reforestation of the area and the study of the Dominican Republic’s fauna, focusing on native bats and their ecosystem.
This study has been implemented together with international and Dominican biodiversity experts, as well as financial partners to benefit the country and for wind farms to be built in the future.
RG Engineering, Inc. will act as a partner in the construction of the project, and Vestas Wind Systems A/S will provide turbines and operation and maintenance services.
The project received $145 million in financing, a portion in dollars from local banks Banco BHD León, Banco Popular, and BanReservas, and a portion in Dominican pesos from AFI Universal and organized by CIFI.