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US$600M bond guarantees coal-fired power plant completion

US$600M bond guarantees power plant completion, official says

Santo Domingo.-  State-owned electric utility (CDEEE) CEO Rubén Jiménez Bichara on Tuesday said  the funds to complete the Punta Catalina power plant project are guaranteed with the US$600 million bond issue, and funding financing by the pool of European banks (SACE).

“With those resources, plus those coming from the European bank pool, ensure that the cash flow for Punta Catalina is guaranteed. Those resources will be enough for its completion,” the official said.

Jimenez said the US$100 million allocated to finance the coal-fired plant project from the reformulated 2016 budget are part of the US$600 million previously approved by Congress.

Interviewed on Digital 15TV, the official affirmed that the Punta Catalina plants, of 720 megawatts, will be ready by mid 2018. “The tests for the first engine (360 megawatts) will be carried out in the first quarter of 2018 and the second engine for the next quarter.”

Source: DT

Dec 14, 2016

Category: DR News |

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Last updated March 24, 2017 at 12:37 AM
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