In the work session on 11 January 2022, the Chamber of Deputies approved the creation of a private trust to operate the coal-fired electricity 752 MW generation facility at Punta Catalina in southern Peravia province. The legislation assigned the Fideicomiso Publico de Punta Catalina (Fideicomiso CTPC), a government bank Banreservas Trust and the Dominican Public Electricity Corporation (CDEEE) with the management of the power plant. The so-called independent management is a solution submitted by the Abinader Presidency for the power plant that has been plagued by all sorts of issues stemming from its inception and continuing on to its spotty operation.
The contract values the Punta Catalina power plant assets at US$2.34 billion.
The “energy trust” would turn the management of the plant over to a group headed by economist and industrial magnate Celso Marranzini Perez. Marranzini at one time headed the CDEEE.
However, voices soon questioned this legislation, and on Saturday, 15 January 2022 the Justice and Transparency Foundation reported that they would present a report to the Senate with a detailed analysis of the judicial implications and the constitutionality of the legislative proposal to establish this Punta Catalina Trust. Calling the alleged advantages “chimeras” the foundation says it will look at the “privatization” of the huge complex, which would be managed by the trust for 30 years. One of the points raised by the foundation is the fact that the complex would be managed, in reality, by a five person technical committee, headed by Marranzini.
News commentator Huchi Lora remarked on the generous conditions awarded the new management group in the contract.
The Punta Catalina Trust still needs the approval of the Senate.
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