The IDB loans, worth US$78.3 million, will take advantage of incentives created by a recent law to develop electricity production from non-traditional, renewable sources, to fund two wind farms that will add 80.6 megawatts to the national energy matrix.
13 July 2011: The Inter-American Development Bank (IDB) is promoting wind power energy in the Dominican Republic, through loans for a total of US$78.3 million for the construction of two wind farms that will add 80.6 megawatts to, and diversify, the national energy matrix.
The projects will take advantage of incentives created by a recent law to develop electricity production from non-traditional, renewable sources. One wind farm will use Gamesa turbines and the other Vestas turbines. Both projects will involve the construction of transmission lines to connect the wind farms to the national electric grid. The wind farms will sell the power produced to the grid based on 20-year power purchase agreements. Estimates for reduced emissions expect an average amount of 144.000 tons of carbon dioxide per year. Both wind farms may qualify for obtaining certified reductions of carbon dioxide emissions. [IDB Press Release]