Month: April 2011

The First Wind Park is “Almost Ready”

The First Wind Park is “Almost Ready” - Ege HainaPedernales.- Nine years after attempting to develop a renewable energy project, the Empresa Generadora de Electricidad de Haina (EGE-Haina) is performing the final works to inaugurate the first wind park of the country, and immediately initiate its expansion process.

It is about the wind parks “Los Cocos” and “Quilvio Cabrera”, two projects promoted as one by EGE Haina and the Consorcio Energético Punta Cana-Macao (CEPM) within the community of Juancho, in the Pedernales province.

They were built at a cost of USD$100m, of which already USD$90m have been invested. USD$12.5m of those were delivered to the Government in order to build a 56Km transmission line, via which they will inject 33MW to the national electric system.

The parks are composed of 19 windmills of 120mts high each and two substations, enough to supply energy to an estimated 30,000 homes, and saving the annual importation of 200,000 barrels of crude oil.

“The project is already a reality, and we are getting ready to inaugurate it by ends of July or beginnings of August”, said Tito Sanjurjo, GM for Basic Energy Group (the consortium that operates EGE-Hains and CEPM).

About EGE Haina:

EGE Haina is a company in the Energy and Industry portfolio of assets administered by VICINI.

The VICINI family has invested in different economic sectors in the Dominican Republic for over 140 years. VICINI is one of the companies that has contributed significantly to the development and industrialization of the country.

SOURCE: El Dia

Sabana Grande de Palenque Library is Built

Sabana Grande de Palenque Library is Built

Directors of the Municipal Cooperative of Sabana Grande de Palenque

Sabana Grande de Palenque, San Cristóbal. The community of this municipality built a municipal library, via an agreement between the Town Hall and the company DOMICEM.

The Juan Barón Municipal Library was built at a cost of RD$4,086,000.00

Of this total, the Town Hall contributed with RD$2,186,000.00 for the construction of the physical infrastructure, while DOMICEM contributed with the sum of RD$2,600,000.00

The library will offer library services, as well as internet, computer lessons, among other.

It features a virtual classroom, two reading areas, reference centers for books and encyclopedias, an inverter, among others.

It is administrated by a patronage formed by members of the Catholic, Adventist and Evangelical Church, the Association of University Students, the Town Hall and DOMICEM.

About DOMICEM:

DOMICEM is a company in the Energy and Industries portfolio of assets administered by VICINI.

The VICINI family has invested in different economic sectors in the Dominican Republic for over 140 years. VICINI is one of the companies that has contributed significantly to the development and industrialization of the country.

SOURCE: Hoy

SIV Approves Bonds for EGE Haina and the Brewery

Santo Domingo. The Securities Superintendence of the Dominican Republic (SIV), approved two issuance programs for corporate bonds; one in favor of the Empresa Generadora de Electricidad Haina (EGE-Haina), for an amount of USD$50m, and the other in favor the Dominican National Brewery (*Cervecería Nacional Dominicana), for a total of USD$6,750M.

The new issuance program of public offering of EGE-Haina, is formed by ten features ten participation levels of USD$25m each. While the Brewery program is formed of six levels, that can be bought into with a minimum investment of RD$100,000.00

Both organizations were graded by Fitch Ratings as solid, meaning, both companies have the capacity for timely payment.

In the case of EGE-Haina, the grade attained is A+ on the long-term, equal to the low risk expectation, and CNE received AA+, which implies high quality.

About EGE Haina:

EGE Haina is a company in the Energy and Industry portfolio of assets administered by VICINI.

The VICINI family has invested in different economic sectors in the Dominican Republic for over 140 years. VICINI is one of the companies that has contributed significantly to the development and industrialization of the country.

SOURCE: El Dia