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Blue Elephant Energy Takes Control of 116-MW Carribean Solar Project

Blue Elephant Energy AG (www.blueelephantenergy.com)



May 10 (Renewables Now) – German renewables developer Blue Elephant Energy AG (BEE) has acquired a majority stake in the 116-MW Montecristi solar project in the Dominican Republic, its legal adviser Watson Farley & Williams (WFW) informed on Thursday.

 

The vendor was F&S solar concept GmbH, a German solar farm builder who will remain on the project as a partner and stakeholder.

 

The first 58-MW of the project was brought online in July 2018. Later in October, the Dominican Republic’s National Energy Commission (CNE) approved the expansion to 116 MW. A state-owned off-taker has signed a power purchase agreement (PPA) for the output of Montecristi.

 

Spanning over 200 hectares, Montecristi will be the largest solar farm in the Caribbean once the construction is completed.

 

A trio of European development banks, Germany’s Deutsche Investitions- und Entwicklungsgesellschaft (DEG), Belgium’s BIO and the Netherlands’ FMO, have provided a project finance loan for the construction of the farm.

 

Source: https://www.renewablesnow.com/news/blue-elephant-energy-takes-control-of-116-mw-carribean-solar-project-653569/

 


Category/ies:Dominica News, Dominica Projects, News, Projects, Regional News, Regional Projects, Renewable Energy, Solar Energy, Solar PV System.
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