Ecoener expects to have 279 MW in operation in the Dominican Republic by 2024

11 | 24 | 2023

Ecoener expects to have 279 MW in operation in the Dominican Republic by 2024

  • The President of the Dominican Republic, Luis Abinader, inaugurated photovoltaic plants Cumayasa 1 and 2, with a total installed capacity of 97 MW.
  • Ecoener Chairman Luis de Valdivia said: “This period of strong growth and stable revenues is now well established. These new facilities will allow us to significantly grow our operations.”
  • Cumayasa 1 and 2 will generate enough renewable energy to supply 48,000 homes each year and avoid the emission of 140,000 tonnes of CO2 into the atmosphere.
  • By the end of 2024, the company will have five photovoltaic plants in the Dominican Republic, with investments totalling $289 million.

Cumayasa, Dominican Republic, 24 November 2023.-  The President of the Dominican Republic, Luis Abinader, today officially inaugurated Ecoener’s first two photovoltaic parks in the country, Cumayasa 1 and 2, with a total installed capacity of 97 MW.

The Minister of Energy and Mines, Antonio Almonte, and the Director of the National Energy Commission (CNE), Edward Veras, also attended the event, along with other prominent regional and local authorities.

Ecoener Chairman Luis de Valdivia said: “This period of strong, diversified growth and stable revenues for the company is now well established. The commissioning of these two new solar PV plants will allow us to significantly grow our operations.”

He went on to say: “This affords greater strength and confidence in our company and our assets in the future.”

The PV plants inaugurated today “evidence Ecoener’s commitment to the Dominican Republic and are the first tangible example of the extensive projects under development by the company, thanks to the strong investor interest in the country,” added Luis de Valdivia.

Ecoener expects to end 2024 with five photovoltaic parks in operation in the Dominican Republic, with total installed capacity of 279 MW. The company is set to invest a total $289 million in developing its new projects in the Dominican Republic.

Cumayasa 1 and 2

Solar PV plants Cumayasa 1 and 2 have a production capacity of 192 GWh per year, equivalent to the average energy used by 48,000 homes. Every year, these facilities will avoid the emission of 140,000 tonnes of CO2 into the atmosphere and the consumption of 17,000 tonnes of fossil fuels.

They will also deliver revenues for Ecoener of $250 million over the next 15 years, thanks to two power purchase agreements (PPAs) signed with one of the leading energy marketing and distribution companies in the Dominican Republic.

Five photovoltaic parks

Ecoener plans to add a third PV plant in Cumayasa by the end of 2024, increasing the total installed capacity by a further 62 MW, from the current 97 MW to 159 MW.

Ecoener is also building two other PV plants in Payita, in the province of María Trinidad Sánchez, in the north of the country. Payita 1 and Payita 2 are expected to be completed in 2024 and will have a total installed capacity of 120 MW.

The Spanish renewable energy company has developed four of the five projects, is constructing all five and will also manage the operation and maintenance phase of all five plants.

Commitment to ESG: social economy

The photovoltaic plants inaugurated today have been developed as an agrivoltaic pilot project, combining solar PV power generation with sheep grazing pastures. This innovative strategy allows technology and agriculture to exist alongside each other in harmony.

Agrivoltaics is a pioneering concept whereby energy production and agriculture complement each other, contributing to food and energy security in a balanced,  environmentally friendly way.

The construction and installation of the photovoltaic panels was primarily undertaken by female staff, which helped support the social economy in the region where the projects are located.

As well as contributing to the decarbonisation of the Dominican Republic, solar photovoltaic power helps to bring down energy prices, which benefits society as a whole in the country.

 1,000 MW in assets in 2025  

Following the latest inaugurations in Cumayasa, Ecoener now has 341 MW in operation, 277 MW under construction and 1,441 MW under development. This is more than twice the asset volume reported by the company at the end of 2020; since then, it has multiplied its assets in operation by 2.5x and almost doubled its assets under construction.

Whilst remaining well-positioned in its traditional markets, the company is working intensively in various European Union countries. Ecoener expects to hit the milestone of 1,000 MW in operation and under construction by the end of 2025.