The government will submit a loan agreement for more than US$154 million to Congress for the financing of the construction of the Itabo III, a power plant with capacity for generating 125 megawatts. The 15-year financing will be provided by the Banco Central Hispanoamericano de Espa?a. Construction of the power plant has been awarded to the Spanish consortium Babcock Wilcox, Mec?nica de la Pe?a, Foster Wheeler Energy and Empresarios Agrupados Internacional. The power plant is slated to produce energy at a cost of US$0.02 per kilowatt. The lowest cost energy generated in the DR is that of the hydroelectric dams, estimated at US$0.01.
