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Wave project could benefit from incentives law in Dominican Republic

Company SME & Design’s wave power generation project would be the first of its type to benefit from the Dominican Republic’s renewables incentives law, an official from the national energy commission’s (CNE) incentives office told BNamericas.

The legislation does not require tax payments during the first 10 years of renewable energy projects, includes zero import duties and provides up to 75% of equipment financing, among other benefits.

CNE has granted the developer a provisional concession to carry out studies for a breakwater system, government information agency CIG reported.

The project is planned for Puerto Plata on the north coast and could boast capacity of up to 132MW.

SME & Design has 18 months to carry out studies; the next step would be to secure the definitive concession to build and operate the project.

Category/ies:Regional News.
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