The Medina administration is pushing ahead to complete the Punta Catalina coal-fired power facility even though the US$632.5 million loan with a group of banks pooled by the Deutsche Bank S.p.A. nor the Brazilian financing have been yet disbursed. As reported in Diario Libre, the work entrusted to the Odebrecht Tecnimont Estrella consortium under the supervision of the Dominican Public Electricity Corporation (CDEEE) involves the installation of coal-fired plants with a generation capacity of 769.8 megawatts. Its cost is said to be around US$2.04 billion and the plants are scheduled to enter into operation in 2017, as confirmed by CDEEE board chairman Jose Rafael Santana.
As reported, so far US$600 million have been spent on the construction, of which US$300 million was provided by the government, and another US$300 million through a loan secured with local banks by the Odebrecht-Tecnimont-Estrella consortium, with the endorsement of the Dominican government.
On 10 February 2015, the government signed a loan for US$656 million with the Brazilian export bank (Bndes) to be used to finance the 100% of the Brazilian equipment to be used in the thermoelectric plant. These funds have still not been disbursed.
On 20 May 2015, the government approved the US$632.5 million financing with Deutsche Bank. This too is pending to be disbursed.
In an interview in El Dia, Administrative Minister of the Presidency Jose Ramon Peralta says that the Medina government will resolve the country’s blackout problems with Punta Catalina. He says residential and business consumers will also benefit from competitive tariffs for electricity once the plant kicks in.
http://www.diariolibre.com/economia/ni-un-solo-dolar-ha-llegado-para-financiar-plantas-a-carbon-AX1819174