President Leonel Fernández was present at the groundbreaking ceremony to start construction of the 300 megawatt Cogentrix Energy power facility in southeastern San Pedro de Macorís. The project will utilize oil-fired, combined cycle technology and has an expected total cost of around US$300 million. Cogentrix, a US power plant developer headquartered in Charlotte, North Carolina is serving as lead developer and majority owner in a partnership with the Commonwealth Development Corporation of Great Britain. Siemens Power Generation Group of Germany will be providing turnkey construction services for the project. Cogentrix was selected by the state power utility, CDE in a competitive solicitation conducted in 1997. Siemens has committed to complete the project in 24 months time. As per the time schedule, the power plant should be generating electricity by the end of 2001. During the ceremony, Cogentrix chairman, David Lewis forecast that the project will become the new standard for power plants in the DR due to its environmental and economic advantages. The Compañía de Electricidad de San Pedro de Macorís expects to generate energy at half the cost of turbine and diesel generators at present operating in the DR. The company has a 20-year contract to sell power to the CDE. Also present at the ceremony were Ian Weetman, regional director for Commonwealth Development Corporation; Rudolph Vogel, commercial director for Siemens; Stephen McGaughey, the IDB representative in the DR; David Ward, Ambassador of Great Britain; Linda Watts, charge d’affairs of the US Embassy; Helmut Pregeler, Counsellor Minister of the German Embassy; Technical Secretary of the Presidency Temístocles Montás and Eng. Radhamés Segura, general manager of the CDE.
