GAM Capital acquires equity stake in Parques Eólicos del Caribe (PECASA)

The investment fund management company, GAM Capital, through its closed-end fund, GAM Energía, acquired an equity stake in Parques Eólicos del Caribe, SA (Pecasa) – a 50 MW wind farm located in El Copey, province of Monte Cristi, northwest of the Dominican Republic, for an undisclosed amount.

GAM signed an agreement on December 18, 2019, to acquire a stake in Akuo Energy Dominicana, SRL (Akuo), the entity which owns 100% of Pecasa. As a result, GAM Energía joins Akuo Energy and Siemens Financial Services as a partner in the project.

The park became operational as of June 2019 with a 50 MW capacity and has 25 wind turbines. It is one of the largest renewable energy projects in the Dominican Republic and is expected to contribute to the reduction of greenhouse gases.