AES Dominicana to invest US$ 400 million in renewable energy

Government recognizes AES Dominicana for its contributions as one of the main investors in the country.

Over the next three years, AES Dominicana expects to invest more than US$400 million to expand the supply of renewable energy with new generation parks.

The company, which represents the largest US investment in the country, has enabled the country to save more than US$3.5 billion by substituting fuels in the last 10 years.

The information was released during a recognition of AES Dominicana for its contributions to the country as a foreign investment in the energy industry, within the framework of a new initiative carried out by Pro Dominicana with the support of the United Nations Conference on Trade and Development (Unctad).

“AES Dominicana is proud to receive this recognition that it shares with its shareholders, collaborators, clients, the Dominican people and that constitutes a stimulus to continue being a companion of the energy development of the Dominican Republic, supporting the growth of the economy”, said Giselle Marie Leger, Legal and Government Relations vice-president of AES Dominicana, on behalf of the company’s president, Edwin de los Santos.

The Foreign Direct Investment (FDI) Recognition ceremony was led by President Luis Abinader, and took into account ten categories, such as tourism, free zones, telecommunications and technologies, industry, financial sector, logistics and mining.

From 2017 to date, AES Dominicana as sector leader and main investor of US capital, has made its presence felt through projects such as the closing of the combined cycle at the Dominican Power Partner (DPP) generator, the construction of two solar photovoltaic energy parks, totaling 100 new megawatts of clean energy, the recent acquisition of the Agua Clara I wind farm with another 50 megawatts, as well as the commissioning of the Gasoducto del Este in 2020, together with its partners in ENADOM.

This sustainability benefit will be extended when, through ENADOM, the project for the construction of a new storage tank in the Caucedo area, Boca Chica, will be completed in early 2023 to provide the country’s energy matrix with greater resilience and robustness.

AES Dominicana, a subsidiary of AES Corporation, represents the largest U.S. investment in the Dominican Republic, and has two local partners: Grupo Linda and Grupo Estrella, represented by Félix M. García and Manuel Estrella, respectively.

The Foreign Direct Investment (FDI) Recognition, which took place in the Jesús María Troncoso Hall of the Central Bank, will take place every year, according to Pro Dominicana.

Also present at the activity were Raquel Peña, Vice President of the Republic, Biviana Riveiro, Director of Pro Dominicana, Antonio Almonte, Minister of Energy and Mines and Victor (ITO) Bisonó, Minister of Industry, Commerce and Mipymes.

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