Parques Eolicos del Caribe

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The project entails the design, financing, construction and operation ?? ? 50-MW wind farm located in Villa Vasquez, province of Monecristi. Parques Eolicos del Caribe (Pecasa) will develop the project on behalf of the sole sponsor - Akuo Energy SAS, Paris-based renewable energy company. Plant is undertaken on a Build Own and Operate basis (license scheme). Pecasa will sell all its energy output to the government-owned power company, Corporación Dominicana de Empresas Eléctricas Estatales (CDEEE), through a dollar-denominated power purchase agreement for a 20-year term. Project has a total project cost of $125 million and is expected to become operational in the first half of 2019. IFC arranged a financing package which includes $18.5 million for IFC’s own account, $18 million from the Dutch Development Bank (FMO), $17 million from the IFC-Canada Climate Change Program (a partnership between the Government of Canada and IFC), $15 from million Proparco, the French development finance institution, and $11.5 million from the German Investment Corporation (DEG). Financial close was achieved in December 2017. https://ifcextapps.ifc.org/ifcext/pressroom/ifcpressroom.nsf/0/3CD947FF10594D528525821700574EFD https://disclosures.ifc.org/#/projectDetail/SII/32227 http://www.windpowerintelligence.com/article/QkrasoUHbg/2018/01/16/dominican_republic_80m_arranged_for_50mw_pecasa/ https://renewablesnow.com/news/akuo-energy-gets-ifc-loan-for-50-mw-wind-farm-in-dominican-republic-598448/ Other sponsors: Aquiles Mateo-Flaquer (9%), Miguel Angel Muniz (5%)