Funders splashing $100m on Dominican Republic clean energy

A power company in the Dominican Republic is getting $100 million (£60m) from investors to develop more gas infrastructure and renewable energy sources. Caribbean energy company InterEnergy Holdings (IEH) will […]

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By Vicky Ellis

A power company in the Dominican Republic is getting $100 million (£60m) from investors to develop more gas infrastructure and renewable energy sources.

Caribbean energy company InterEnergy Holdings (IEH) will use the cash to boost the Latin American island’s ability to import liquefied natural gas and developing wind and solar power.

Rolando Gonzalez Bunster, Chairman and CEO of IEH said: “We will work together to bring more reliable, cost-efficient and cleaner energy production to the Dominican Republic and also plan to be directly involved in the development of power sector solutions for Haiti, facilitating economic development in the island of Hispaniola.”

The efforts are expected to “save fuel costs” by reducing reliance on oil according to a statement from the pair of investment funds, IFC and the IFC African, Latin American and Caribbean Fund.