The DR has climbed from position 15 to 8 in the Multilateral Investment Fund (IDB) Climatescope 2013 ranking, as reported in Diario Libre. The ranking lists the most attractive clean energy markets in Latin America and the Caribbean. The report indicated that cumulative renewable investment doubled in the Dominican Republic, and reached US$645 million in 2012. The country was the highest ranked in the Caribbean.
Overall, the report assesses the investment climate for climate-related investment in Latin America and the Caribbean. The ranking profiles 26 countries in the region and evaluates their ability to attract capital for low-carbon energy sources while building a greener economy.
The DR ranked below Brazil, Chile, Nicaragua, Peru, Mexico, Uruguay and Argentina in the region.
According to the report, the Dominican Republic was only behind Panama and Uruguay with the highest average spot power prices in 2012 with US$194MWh.
In Clean Energy Policies, the DR scored 3.02, better than all countries ranked with the exception of Brazil (3.86), Uruguay (3.53) and Peru (3.21)
The executive director of the National Energy Commission (CNE), Enrique Ramirez said the report recognizes the Dominican government’s work to attract investment in renewable energy projects.
The report is produced by the Multilateral Investment Fund of the IDB-Fomin and Bloomberg New Energy Finance (BNEF).
See the report at: http://idbdocs.iadb.org/wsdocs/getDocument.aspx?DOCNUM=38168432