A strategic alliance between the Dominican Jasper Caribbean Windpower LLC company, the maker of electricity wind generators, Vesta, of Denmark, the Unique Capital Management investment fund in the United States and the People’s Republic of China state–owned Chengdu Power Engineering Corporation (Power China) will enable the installation of 115 MB of wind-powered electricity in Maimon and Imbert, in the province of Puerto Plata with an investment of US$260 million. The announcement was made by José Pereyra Cordova, the president of Jasper in the Dominican Republic, in an interview with members of the Corripio media group. He was accompanied by Enrique de Marchena Kaluche, the legal advisor of Jasper.
De Marchena and Pereyra explained this would be the first time a Chinese state-owned company joins a private entity in the Dominican Republic for energy production. Pereyra Cordova said that the project comes from way back, and began in the community of El Cupey with the construction of a kilometer of highway to access the construction site and other investments carried out together between local and US companies.
The participation of the Chinese company, ranked by Fortune magazine as one of the 500 biggest energy companies in the world, had been blocked because the Dominican Republic did not have diplomatic relations with the Peoples Republic of China. Chinese laws forbid their companies to do business with countries that do not have diplomatic relations with China.
According to the Jasper representative, they had been waiting for the establishment of diplomatic relations with the Dominican Republic.
The project to supply 110 megawatts of alternative wind energy, a US$150 million investment, had been announced in 2006 by the US firm of Jasper Caribbean Energy.
Read more:
El Nacional
Windfair
19 November 2018
