AES Corporation announced that it has secured a US$145 million loan for the completion of the AES Andres liquefied natural gas (LNG) import terminal. According to AES, the funds will be used to finish construction of a US$400 million LNG import terminal, regasification facility, pipeline and 300 MW combined-cycle power plant, some 20 kilometers from Santo Domingo. The facilities are in an advanced stage of construction, with the terminal expected to commence commercial operations by February. The co-located combined-cycle power plant is expected to begin its commercial operations in August. The plant will be dual-fired, able to burn natural gas and No. 2 oil. The project also includes a 35-kilometer natural gas pipeline from the LNG facilities to the AES Los Mina power facility, which now fires oil.
The Dominican Republic will become only the 13th country in the world to import LNG.
The Banco Popular Dominicano led a syndicate consisting of five banks, which also included Banco Popular Puerto Rico, Banco BHD, Banco Mercantil, and Banco Profesional. The funding package represents the largest private financing endeavor in the history of the Dominican Republic.
