Last month two loans for a total of $78.3 million were approved
The Dominican Republic’s first 33-megawatt wind farm, which belongs to Empresa Generadora de Electricidad Haina SA
, the Santo Domingo-based power utility, will come online in September, according to press reports.
The country plans to roll out US $770 million of wind farms through 2015 by enticing developers with some of the region’s most generous rates for renewable energy.
Gamesa Corp. Tecnologica SA, Europe’s second-largest wind- turbine maker, and Spain’s Grupo Inveravante are among companies developing 350 megawatts of capacity over the next four years, the reports added.
The Dominican Republic gets about 12% of its power from renewable sources, with the rest generated from costlier fossil-fuel imports, and plans to boost that share to 25 percent by 2020 by offering wind developers more than double the amount of money for their electricity than is available in some other Latin American countries.
Last month the Inter-American Development Bank approved two loans for a total of $78.3 million to support the construction of two wind farm plants in the Dominican Republic.
The wind energy projects, part of the country’s new investment in electric power production, will add a total of 80.6 megawatts to the existing electricity production capacity, estimated at 3000 megawatts.
