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IFC and partners grant $100 million for energy projects in Dominican Republic

Both IFC and IFC ALAC Fund will provide $50 million each to IEH, which intends to use the funds to expand and upgrade its existing operations and develop new projects to diversify the Dominican Republic’s energy sources and reduce the country’s reliance on fuel oil for power generation.

The investments are likely to save fuel costs by increasing the country’s capacity to import liquefied natural gas (LNG), and assist in the development of renewable energy sources, such as wind and solar power.

InterEnergy Holdings owns and operates power generation and distribution assets in Latin America and the Caribbean. IEH is one of the largest investors in the power sector of the Dominican Republic, with controlling positions in Consorcio Energético Punta Cana Macao S.A. (CEPM) and Compañía de Electricidad de San Pedro de Macorís (CESPM).

Category/ies:Regional News.
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