Gamesa PECASA Wind Farm

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Parques Eolicos del Caribe S.A. was created to build, own and operate a 50 MW wind project to be located in Montecristi Province, the Domincan Republic. The project would consist of 25 2 MW turbines manufactured by the Spanish company Gamesa. The project company was a venture between Gamesa (57% ownership), the Dominican Bank Grupo BHD (29%), and other Dominican investors. At the time of financial close, the project had signed a 20 year PPA with the state-owned utility CDEE. The projected total investment for the project was USD 126.7 million. In July 2011 the project reached financial close, with the Inter-American Development Bank and the European Investment Bank providing USD 50.7 million and USD 45 million in loan financing, respectively. As of financial close, the project's EIA had been approved and commissioning was scheduled for 2013. http://www.eib.org/projects/pipeline/2010/20100680.htm http://www.iadb.org/en/projects/project,1303.html?id=DR-L1051