Dominican state electricity company signs agreement with AES

• 11 years ago (2013-03-26)
• David Flin

North America 1021

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The Dominican Corporation of State-Owned Electricity Enterprises (CDEEE) and AES Dominicana have signed an agreement aimed at modifying the country’s power generation matrix, to allow for more cost-effective, efficient and appropriate power generating capacity.

CDEEE Executive Vice President Jiménez Bichara, President of AES Dominicana Marco de la Rosa, and the President of the Reformed Companies Asset Fund Fernando de la Rosa, signed a memorandum of agreement to implement joint investment of $800 million to develop a 300MW coal-fired plant, next to and as part of the ITABO generating park. The new generator will be called Itabo III, and is part of the government’s plan to increase the use of coal-fired generation to reduce primary energy costs.