Acciona Energia teams up on 162-MWp solar project in Dominican Republic

DSpanish renewables pure-player Acciona Energia has reached an agreement with two entities in the Dominican Republic to acquire and jointly develop a project for a 162-MWp solar power complex.

Under the agreement, Acciona Energia will own a 51% stake in project, while its new partners, Caribbean-based financial group JMMB Sustainable Energy Fund FES and Dominican diversified holding Grupo Pais, will hold the remaining 49%.

JMMB, the fund’s manager, announced the transaction last week, adding that the partnership will explore other joint investment opportunities in the Dominican renewables market.

For now, the trio will co-own the Cotoperi solar project, which consists of three sites located in the town of Guaymate in La Romana province. They expect the investment in the project to reach about USD 150 million (EUR 140.9m).

In 2020, Dominican energy commission CNE granted provisional concessions for the Cotoperi I, II and III solar projects, each with 54 MWp of proposed capacity. The provisional concessions carried a term of 18 months, according to CNE’s archive.

(USD 1.0 = EUR 0.939)