Empresa Generadora Haina

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A consortium led by Seabord was the only bidder for Empresa Generadora Haina. The consortium offered US$144.5 million for the 50% stake which Corde (Commission for the Reform of Public Enterprises) had valued at US$143-million. The proceeds of the bid were to be reinvested in the company to pay off liabilities and to increase capacity. At the time of the divestiture, Seabord included Enron Caribe, Globeleq (the power sector subsidiary of the Commonwealth Development Corporation (UK)), Basic Energy and the Caribbean Basin Power Foundation. As of December 2008, EGE Haina was owned 50% by Haina Investment Company (a joint venture between Basic Energy [75.6%] and CAREC [24.4%]) and 50% by the government. Haina initially comprised five generating units with a total nameplate capacity of 363 MW. In January 2000, the private sponsors announced that an additional US$49.3 million was to be invested in the power plant. In 2001, Haina installed a US$150 million, 150 MW floating base load power barge and a 45.6 MW steam generator. In 2003, the company installed a 1.7 MW diesel power unit. As of December 2008, EGE Haina operated 11 generation units with a total combined capacity of 583 MW spread across six plants, namely San Pedro, Sultana del Este (power barge), Haina, Barahona, Puerto Plata and Pedernales. By mid 2003, the Dominican Republic was facing a power shortage. Distributors were not making power purchase payments because of the depreciation of the Dominican peso against the US dollar and the high price of oil. Haina claimed that distributors owed in excess of US$45 million, and as a result the generator was producing just 220-230MW, down from the peak of 540MW in March 2003. By end 2003, power production at Haina had been suspended and Haina was considering taking its plants out of operation unless the government cleared its debt with the company. By 2010, operations of EGE Haina's power plants were taking place normally. http://www.egehaina.com/