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100 million dollars investment to develop clean energy

Two international institutions yesterday announced a US$ 100 million joint investment in Inter-Energy Holdings (IEH), to develop cleaner and efficient sources of energy in the Caribbean and expand its operations in Latin America.

Investors are IFC, a member of the World Bank Group and the Fund for Africa, Latin America and the Caribbean (ALAC) of the IFC. Each will contribute US$ 50 million in capital to IEH, a company focused on the energy sector in Latin America and the Caribbean, and one of Dominican Republic’s leading investors in electricity generation, transmission and distribution.

The capital investment by IFC and the ALAC Fund, is a natural evolution of our partnership for many years with IFC, which has previously funded companies in our group, said Rolando Gonzalez Bunster CEO of IEH.

He said they work to achieve production of secure, efficient and clean energy in the country, and « we plan to participate directly in the development of solutions for the energy sector in Haiti, thereby facilitating economic development on the island.

Gonzalez Bunster said investments of IFC and ALAC Fund allow IEH to expand and improve its existing operations and develop new projects to diversify Dominican Republic’s energy matrix, thus reducing the country’s dependence on oil to generate power.

He added that the investments are expected to generate savings in fuel costs by increasing the capacity to import natural gas and develop renewable energy sources.

Source: Dom rep live

Category: DR News |

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Last updated October 24, 2016 at 6:05 PM
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