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U.S. company, Dominican utility announce US$800.0M natural-gas power plant

Santo Domingo.-  The State-owned Electric Utility (CDEEE) on Wednesday signed a memo of understanding (MOU) via which the U.S. based power company North Energy Central (NEC) will invest US$800.0 million to build a natural-gas fired power plant of 400 megawatts at Manzanillo, Montecristi (northwest).

The announcement came after a meeting between Ruben Jimenez Bichara, CEO of the CDEEE, and NEC president Greg Michaels, in the Utility’s offices in Santo Domingo, accompanied by several power company’s executives and officials of the utility.

In a statement, NEC said since the project was first announced early last year, government officials and its executives have worked together to accomplish the agreement signed yesterday.

The U.S. based company said the power plant will boost the economy of the town of Manzanillo and the Northwest region. “Through this important document the port facilities at Manzanillo, Montecristi, will be revamped with a 400 megawatt, natural gas-fired power plant, with U.S. leading edge technology. Its output will be 200 MW in 18 months and an additional 200MW in 30 months.”

NEC added that it has a long term contract for the power plant’s supply of natural gas, with a storage tank built on land to guarantee stability in its function.

“With the entry of this power plant into the national grid, the base fuel for generation will continue to change, advancing the government’s goal of obtaining energy at a lower cost and increased output, which is one of the variables affecting the sector.”

Natural gas supply

In a subsequent statement, the NEC said the agreement also stipulates the supply of all the natural gas requited by the CDEEE, from its facility at Manzanillo.

Source: DT

Category: DR News |

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Last updated December 6, 2016 at 12:34 PM
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