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.
Country updates
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December 04, 2019
Dominican Republic starts the commercial operations of 50 MW Washington Capital Solar PV Park in Mata de Palma
The Government of the Dominican Republic has started commercial operations of the 50 MW Washington Capital Solar PV Park in Mata de Palma. The Washington Capital solar park is expected to generate up...
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November 22, 2019
AES Corp starts construction of the 58 MW AES Bayasol solar plant
AES Dominicana, a unit of AES Corporation, has started the construction of the 58 MW AES Bayasol solar plant located in the Angostura region of the Dominican Republic. The facility co...
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October 04, 2019
Dominican Republic commissions 34 MW Matafongo Wind Farm
The Dominican Republic has commissioned the commercial operation of its 24 MW Matafongo Wind Farm located in the town of Sabana Buey, Peravia province. The project will be connected t...
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September 12, 2019
Completion nears for CNE's 50 MW Washington Capital solar PV park in Dominican Republic
National Energy Commission (CNE) has announced that its 50 MW Named Washington Capital Solar Park will be put online at the end of the year. The Washington Capital solar park has 201,000 solar p...
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June 20, 2019
Dominican Republic awards 25-year concession to NWEC for 100 MW solar project
The National Energy Commission (CNE) of the Dominican Republic has awarded a 25-year concession to Natural World Energy Corporation (NWEC) for a 100 MW solar photovoltaic plant. The&n...
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