National Energy Commission president Enrique Ramirez has announced that a private concession has been granted to an Italian company, EVYP Caribe Srl, for the construction of a mini hydroelectric plant on the Jimenoa River that will generate 15 to 17 gigawatts a year. The concession is being made under Law 57-07 that provides incentives for renewable energy initiatives. The 4-megawatt capacity generator, which will be built at Paso Bajito in Jarabacoa, will be ready to enter operation in 2014. The project involves an investment of EUR4.8 million.
“This is a highly significant agreement. It will be the first private hydroelectric plant authorized for operation by private business and confirms the government’s commitment and confidence in private business,” said Ramirez.
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