The Abinader government created a trust agency to handle everything to do with the Punta Catalina Thermo-electric Power Plant (CTPC). The trust would have a 30 year duration.
The controversial coal-fired generator has cost the state well over US$3 billion and reportedly has not yet been formally received by the Abinader government from the Odebrecht-Tecnimont-Estrella consortium.
So far, the 752 MW coal-fired two-plant operation has had an unstable service record.
In theory, the power plant will now pass into the hands of a group headed by very well-known business leader Celso Marranzini Perez, a former executive vice-president of the Dominican Public Electricity Corporation (CDEEE). Interestingly, Marranzini Perez had proposed the construction of smaller coal-fired power plants when then-President Danilo Medina canceled these tenders, replacing these with the Punta Catalina generation project.
The Presidency issued Decree 538-21 that creates the Fideicomiso Público Central Termoeléctrica Punta Catalina (Fideicomiso CTPC). As reported, the idea is to try and introduce some transparency into the operation of the facility on the one hand and on the other hand, delve into the finances of the country’s largest power plant.
The move is also part of the divestment actions underway by the government of the assets of the CDEEE. At present, the assets fall under the Ministry of Energy and Mines. For the ownership of this gigantic power plant to the trust, congressional approval is needed. Since the ruling Modern Revolutionary Party has a majority in both houses of Congress, this is not considered to be a major roadblock.
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Presidency
Presidency
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Diario Libre
Diario Libre
Somos Pueblo
6 September 2021