SIBA Energy Combined Cycle Power Plant in Santo Domingo

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This project involves constructing a combined-cycle gas-fired power plant in Santo Domingo province, Dominican Republic, with a planned generation capacity of 258MW. SIBA Energy Corporation, a joint venture of EGE Haina, Monte Rio Power Corporation, and Soluciones en Gas Natural, has secured long-term multi-currency financing of $322.5 million across three tranches: $69.1 million (DOP$4.1 billion), $188 million, and $62.5 million. The lenders include Bladex ($22.5m), Fondo de Inversión Cerrado Libre para el Desarrollo de Infraestructuras Dominicanas I ($72m) , CIFI LatAm ($17.45m), BHD International Bank (Panamá) ($10m), Banco De Reservas de la República Dominicana (BanReservas) ($60m), Banco Popular Dominicano ($20m), Banco Múltiple BHD ($50m), BPR Bank ($0.55m), Popular Bank ($20m), Banco Promérica República Dominicana ($15m), St. Georges Bank & Company ($10m), Banistmo ($20m), and Banco Ficohsa (Panama)($5m). Cifi also served as the mandated lead arranger, while Banco Popular Dominicano acted as the administrative agent. The financial close date is June 3rd, 2024. https://www.powerfinancerisk.com/article/2dbjhwrkx48lz6r4ttiio/news/project-finance/siba-energy-lands-financing-for-gas-fired-plant-in-dr ; https://latinlawyer.com/article/dominican-company-gets-us330-million-gas-fired-power-plant ; https://www.cifi.com/en/cifi-structures-322-5-million-financing-for-a-thermal-power-plant-in-the-dominican-republic-2/ ; https://x.realfin.com/transaction/259480/siba-energy-santo-domingo-ccgt-power-plant-258mw