Cement producer DOMICEM, has begun construction for a new 1,5MW photovoltaic power plant in Sabana Grande de Palenque, in the San Cristobal province in the Dominican Republic.
The news was published in the Twitter account of the Electricity Superintendence, making it known that this is the company’s first solar power project. The facility will feature 4,616 solar panels.
As informed by local newspaper El Nuevo Diario, it is foreseen that for phase two, the project will expand up to 6MW. All inverters for the plant, will be provided by German company SMA.
The Caribbean nation’s government is currently promoting renewable energy investments, by legal framework agreements and public-private partnerships. Law 57-07 for Incentives to the Development of Renewable Energy and Special Regimes. The country has also established a legal framework for Direct Foreign Investment.
DOMICEM is a company in the Energy and Industries portfolio of assets administered by INICIA.
The Vicini family has invested in different economic sectors in the Dominican Republic for over 140 years. INICIA is one of the companies that has contributed significantly to the development and industrialization of the country.
INICIA is a private asset management firm that operates through partnerships with unique managers focused on the Northern Latin American Region to capture long-term value for investors, clients, partners and associates.